By using the equity in your home, you may be able to refinance your mortgage and consolidate your debt.
Consider a current situation |
|
Conside a new mortgage |
|||
| (6.0% interest rate) | (2.15% variable rate *) | ||||
| Balance | Payment | Balance | Payment | ||
| Mortgage | $ 160,000.00 | $ 1,024.00 | $ 196,000.00 | $ 1,134.00 | |
| Car Loan | $ 18,000.00 | $ 540.00 | Paid off | $ - | |
| Credit Cards | $ 15,000.00 | $ 450.00 | Paid off | $ - | |
| Payout Penalty | $ 3,000.00 | $ - | Paid off | $ - | |
| Total | $ 196,000.00 | $ 2,014.00 | $ 196,000.00 | $ 1,134.00 | |
That’s a monthly savings of $1,169!
To find out how you can lower your debt and be mortgage-free quicker, call your local MBN Calgary Mortgage Broker today.
Brad Gavin, Mortgage Agent 111 5809 Macleod Tr SW Calgary, AB T2H0J9 403-685-7025 866-269-3499 fax bgavin@mbnltd.com www.mbnmortgage.com
*Rate subject to change. OAC. Payments based on 25-year amortization. Central Office: 5770 Hurontario Street, Suite 600, Mississauga, ON, L5R 3G5. FSCO Lic.10428 ® Registered trademark
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