Consolidate Debt
You can take control of your financial situation by consolidating high-interest debt (such as credit cards and personal loans) through refinancing to a low mortgage rate.
- 3Carrots refinance to lower rates so you can get cash to pay off your higher interest debt.
- By consolidating your debt, you only pay one monthly payment instead of several payments, thus lowering the overall cost.
- You can consolidate two mortgages by refinancing both loans into a one low rate mortgage to reduce your repayments significantly.
Consolidating debt makes financial management more convenient! For more information on how you can consolidate your debt, talk to one of our 3Carrots mortgage brokers by calling 0434 390 688 or email doug@3carrots.com.au.
What is refinancing?
Refinancing is the process of paying out your present home loan by applying for a new loan, usually with a different bank or lender. Sometimes refinancing is also called “loan switching” since you are switching an old loan to a new one. Refinancing can also be your ticket to better loan features and lower interest rates. 3Carrots specialises in switching clients into more beneficial home loans.
Here are some popular reasons why people go for refinancing:
- for home improvements or renovations
- for paying other debts
- for purchase of another investment or a car
- for getting a cheaper rate, even if it means giving up some loan features
- for switching from variable to a fixed interest rate, or vice versa