Debt Consolidtion Loans

USING YOUR HOME’S EQUITY TO CONSOLIDATE DEBT

Having equity in your home is a treasured gift that many today don’t have due to the housing market. With home prices dropping, market value is down on homes all around the country, but in Utah homes are still doing well and are above the national average. This means that at this moment, there is no better time for Utah residents to use their home’s equity to consolidate debt, especially when rates are still very low. One way to maximize the opportunity before rates go up is to take out a debt consolidation loan. Utah has an advantage in that the home values are more stable than in other states, and if anyone has been on the fence about consolidating debt now is a good time to jump down.

WHAT IS EQUITY?

Equity is what you build in your home as you continue to make payments to pay down your mortgage balance. So, if you paid $250,000 for your home, and you have paid your balance down to $200,000, you would have $50,000 or more of equity in your home. The reason you may have more equity in the home, is because your original loan balance may have been $250,000, but over time as you pay down your loan your home value goes up.

Homeowners work hard to buy the home, and then pay the balance down. Letting the equity work for them is smart, and still at this time provides them with a clear tax advantage. Debt doesn’t help you earn interest it charges you interest. So, wouldn’t it make sense that rolling that debt into something that can become a tax deduction would make sense? To get that tax deduction, you would need to refinance the home, roll that debt into your home so you can write off the new amount of interest in the new loan but before doing this, make sure to contact a qualified tax advisor.

Where Do I Get a Debt Consolidation Loan in Utah?

Getting a debt consolidation loan in Utah is fairly simple to accomplish. Fink & McGregor will work with borrowers to review their credit report, and help them understand where they can achieve the greatest amount of savings. Many homeowners don’t realize how much debt they are in until they stop and take an honest look at their credit report. Finances are one of the most important things that a family deals with, and can affect the ability to pay for their child’s college education, as well as save and put money aside for retirement.

A debt consolidation loan can help families save money and help them plan for the future and budget better so that they don’t have to consolidate again in the future. With rates so low today, it is amazing to see the savings that Fink & McGregor helps clients achieve when paying off high-interest credit cards.

WHAT ARE THE STEPS TO REFINANCING?

Refinancing doesn’t have to be scary or difficult, especially with our expert mortgage planners and home loan officers to help you every step of the way.

Here are some basic steps that outline the refinance process.

Review your credit
Gather the necessary documents
Contact a loan officer at Fink & McGregor
Discuss which options are best for you
Apply for the loan and submit your documents
Prepare for closing

Fink & McGregor is dedicated to making your loan and refinancing experience quick and simple. Get started today.

Get Started:

Email us at [email protected]
or Call 801-264-9494 now!

Three Easy Ways to Get Started:

Start Quick Application

Or if you are ready to begin the mortgage process:

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Words from Our Clients

Thank you for your assistance on helping us refinance our home. I appreciate the effort to expedite the process and the basket was very nice as well.

- Jamien S

We closed on the loan last evening. Your staff made the process quite effortless and gave your firm a great endorsement. She said of all of the firms that she works with you, Fink and McGregor is in the top two. That reputation is not easily earned. Congratulations.

- BJ

I just closed and everything went great. We're thrilled and the process was quick and super easy. Loved working with you guys.

- Glenda M.

I can’t believe how quickly everything went through. Jeff took lots of time to discuss my options and answer all of my questions. I had only called to see what was possible & Jeff his team got me even better results than I imagined . I will recommend everyone I know to Jeff!

- Maya B.

I started the refinancing process when another lender, by the end of the process which took more than 6 months— my credit was so screwed up because I did what they told me to and they wouldn’t close my loans. They ghosted me for 3 months. I couldn’t even get a loan from any other lender until I worked out the issues with my current lender. Your service was great! Very responsive. You answered all my questions! Thank you for being kind!

- Rikard H.

The preliminary loan process was so easy and smooth I almost forgot I even had a closing scheduled to come in and wet-sign the final documents. The closing itself was probably the quickest/shortest one I have ever gone thru.

- Carol H.

We had a great experience, the process was smooth and completed in a timely manner. Niesha was amazing at communicating and keeping us up to date on our loan process. We would highly recommend Fink and McGregor to everyone we know.

- Dustin and Danyel A.

Fink & McGregor is awesome! They gave me hope from the very beginning. They were able to help me refinance my house, lower my interest rate, and enough cash-out to pay off all my debts and medical bills and still have enough to do upgrades and repairs on my house. Even with my low credit score they were able to make it happen! I would recommend them to anyone!

- Royce C.

It was a very smooth process despite our loan being a VA loan. Niesha was very helpful and made sure we always knew the status of our application and any changes that needed to be made to our loan. We are very satisfied with the service and attention to detail.

- Darrin B.

Everyone at Fink & McGregor has been great!! Emilee has always been very professional when I call. Niesha did everything she could to help merc we tried a VA loan at first but no worries she moved to the FHA! And Jeff, from the first time I contacted him he helped me out especially back in 2015 if I remember correctly. That just seemed difficult for everyone. Thank you all at Fink & McGregor!!

- Alex C.

Fink & McGregor was excellent to work with. Their representatives took care of me like I was their only costumer. I appreciate their timeliness and professionalism throughout the entire process. The team is stellar!

- Jane B.

Second time using Fink & McGregor. Quick, easy, and they honestly do make mortgages simple. The mortgage loan process has been smooth along with clear communication of timelines and what was needed to complete the process.

- Ryan O.