Are you considering putting your Christmas Presents on your credit card again?

Are you thinking of putting your Christmas presents on a credit card again but haven't paid off last year's yet? Maybe even the year before? Well, you're not alone. The average American carries a significant amount of consumer debt. In fact, American households carry a total of $103,358 in consumer debt. So, what's a quick solution? How about a cash-out refinance of your home? Right now, the average homeowner has over $274,000 in equity. That could be your ticket to not only consolidating debt but also tackling those home improvement projects you've been putting off.

But wait, there's more to consider. Let's talk about blended rates. Afraid of losing that low mortgage rate you snagged a few years back? Compare that to what you're paying on high-interest credit card debt. With credit card interest rates hovering around [insert average credit card interest rate]%, a refinance at around 7% could actually lower your overall payments, including that high-interest credit card debt. It's not a one-size-fits-all solution, but it's worth exploring before jumping into a debt management plan that might harm your credit.

Remember, every situation is unique, so it's crucial to crunch the numbers and see if this strategy works for you. And if you're unsure, don't hesitate to reach out to us. Visit our website or contact us directly for personalized advice. Let's make this holiday season the start of a financially smarter new year!
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.