FHA Debt Consolidation Refinance

Smart Mortgage’s Debt Consolidation Program offers a streamlined solution to manage your financial obligations more effectively. By consolidating your higher-interest debts into a single, lower-interest mortgage, you can reduce your monthly payments and simplify your finances. This program is designed to help you regain control of your financial health, allowing you to pay down debt faster and potentially improve your credit score. With Smart Mortgage, you benefit from personalized service and expert advice, ensuring that your debt consolidation plan is tailored to meet your unique financial needs and goals.

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Understanding Weighted Interest

Before you read any further about weighted interest let us simply explain.  If you have an interest rate that is 2,3, even 4% you think it’s GREAT! Not so fast, say you have credit cards at 24% that are maxed out, a car payment at 10% and miscellaneous debt at 8 – 30%.  In most cases if you decided to refinance at even 6,7,8% you would most likely be saving large amounts of money! Or here keep reading to understand more about weighted interest.

Weighted interest, often referred to as the weighted average interest rate, is a calculation used to determine the overall interest rate on multiple loans or credit lines that have different rates and balances. This average is weighted based on the proportion of each loan’s balance relative to the total debt. Essentially, loans with larger balances have a greater impact on the weighted average rate than those with smaller balances. Calculating the weighted interest rate is particularly useful for understanding the total cost of your debt or for comparing the cost-effectiveness of debt consolidation options.

  • Find you the lowest rate.
  • Find low or NO closing costs.
  • Close in 11 – 20 days.
  • Secure a payment that makes sense.
  • Pay off high Interest Debt Now!

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    Working around credit issues with Top Rated Specialists

    The FHA Mortgage team is celebrating its 26th year in business.  Our experience allows for consumer mortgage confidence especially with low rate refinancing options.  We navigate consumers through the mortgage process,  explain options and find what choice works best for you. We specialize in a variety of refinance programs.  Including streamline refinancing, rate and term, debt consolidation, and cash out options.

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    “We worked with Michelle for getting a mortgage. She goes above and beyond for her clients. You can reach her day or night with any questions or concerns. Michelle is very easy to speak to and knows what she is doing, if she doesn’t have an answer she would find it out for you. I recommend her to everyone, if I had to rate her 1-10 there wouldn’t be enough stars to rate her. Thank you so much Michelle for all of your help”.

    BBB A+ Accredited

    “Jon at Smart Mortgage is the best. My wife and I wanted to own our first home and did not think it was even possible. We contacted Jon on a referral from my sister. He worked with us to get the right loan to suit our needs and him and his team walked us through the entire process. Being new to home buying we had a lot of questions and Jon answered every one of them. He was always prompt with information and stayed on top of the entire process all the way through to closing. We love our new home and highly recommend Smart Mortgage Centers to any one looking to purchase a home. Thanks again Jon!”

    Yelp 5.0 Rating

    “Tony is one of the most kind-hearted, charming, selfless individuals. Very professional and down to earth easy to work with. He strives in making others’ lives easier.A family man always puts others before himself. Tony was absolutely incredible. He was patient with all my questions. He was able to give me the information I needed. He always answered my phone calls or text. Tony broke every stereotype times a million. He actually lived up to everything he told us. I highly recommend him if you’re looking for the best possible experience.I trusted him 110%. I’m very glad to have had the pleasure of working with Tony and I hope my post shows that he’s nothing short of excellence. Thank you again Tony for everything! I referred him to many others as well. Tony is true professional, There’s no reason to look elsewhere”.