Consolidating debt mortgage refinance mortgage refinance

To help in answering it, I have developed three debt consolidation calculators designed for three categories of borrowers: *1a, Debt Consolidation Calculator For Home Purchasers, is for those about to purchase a house who may want to consolidate non-mortgage debt in the purchase mortgage.

*1b, Debt Consolidation Calculator For Home Owners With One Mortgage, is for those with an existing first mortgage who may want to consolidate non-mortgage debt, either by refinancing the first mortgage to include the non-mortgage debt, or by taking out a new second.

Staying on top of both these important types of bills can be daunting, especially if your student loans are divided amongst several lenders.

Consolidate 2nd Mortgage in First - means that you consolidate your existing second mortgage by doing a cash-out refinance on your first mortgage, leaving non-mortgage debt as it is.So should you consolidate student loans into a mortgage?Rolling student loan debt into a mortgage (also known as “debt reshuffling”), allows you to refinance your mortgage with either a new loan or an additional home equity loan.Here are some of the main reasons why homeowners may choose to refinance: You might be able to refinance your home loan to a lower interest rate than your current mortgage rate.A mortgage lender can help you determine whether the interest savings are enough to offset the cost of the refinanced mortgage — with a significant rate drop, you can potentially save thousands of dollars over the full term of your loan.