Quickly tap into our robust knowledgebase, learn about mortgage programs and best practices, and stay up to date with the latest mortgage news.
Article
Consolidate Debt Refinance
When mortgage interest rates decline, there’s a unique opportunity for homeowners looking to pay off debt: a refinance. Consolidating debt into a mortgage is easier than you think.
Refinancing means that you replace your existing mortgage loan with a new loan. So, the new mortgage loan pays off the former loan.
Article
Pay Off Debt
If you are a current homeowner, there is a strong possibility that you could save with a refinance. Review this guide to learn more about the ways a refinance mortgage loan can help you consolidate debt.
FAQ
ARM FAQs
Although the 30-year-fixed mortgage is one of the most widely recognized mortgage loans in the U.S., many homebuyers could benefit from an adjustable rate mortgage (ARM).
FAQ
Debt Consolidation FAQs
For homeowners trying to eliminate as much non-mortgage debt as possible, debt consolidation is possible via a cash-out refinance loan or a home equity loan.
FAQ
FHA Refinance FAQs
Many home owners who currently have an FHA loan pay private mortgage insurance. This additional payment can also prompt homeowners to seek a rate and term refinance which may eliminate PMI.
FAQ
Streamline Refinance FAQs
A streamline refinance can be an opportunity for a qualified homeowner to alter their rate and term to be more favorable for their financial needs and goals with more efficiency than the process of a general refinance mortgage loan.
FAQ
Cash Out Refinancing FAQs
A cash-out refinance, in which you will refinance your mortgage for a larger amount than the existing mortgage loan, frees up a portion of your existing home equity in cash. It could be for a home renovation, college tuition or to pay off high-interest credit card debts.
FAQ
Refinancing FAQs
Refinancing a mortgage means that you are applying for a new loan to replace your existing mortgage loan. The choice to refinance a mortgage will likely be motivated by lowered mortgage rates, meaning the new loan will be more favorable and align with your personal and financial goals.
Article
Lower Debt
By consolidating high-interest unsecured debt into one low interest mortgage, it can make your ability to repay your debt more manageable. Mutual of Omaha Mortgage offers two financing options on your mortgage to be able to help pay off debt: a cash-out refinance and home equity loan.
