Is a Refinance Right for You? Let’s Run the Numbers

Mortgage rates change every single day. But your mortgage is not the only place where you’re paying interest. If you have credit cards, personal loans, or a car payment, a cash-out refinance may dramatically reduce your total monthly obligations.

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Reasons People Refinance

✓Lower their monthly mortgage payment

✓Cash out equity to pay off high-interest debt

✓Switch from adjustable rate to fixed

✓Shorten their loan term

✓Remove mortgage insurance

It’s Not Just About Your Mortgage Rate

Most people think of refinancing only as a way to get a lower mortgage rate. But that’s only one piece of the picture. If you are carrying credit card balances at 20–25% interest, a car loan at 8%, and a personal loan at 12%, you may be paying far more in total interest every month than you realize.

A cash-out refinance lets you access the equity in your home and use it to pay off those high-interest debts — replacing multiple high-rate obligations with a single, much lower mortgage rate. Even if your mortgage payment goes up slightly, your total monthly obligations can drop significantly.

Use the Debt Consolidation Calculator below to run your own numbers before you call.

Cash-Out Debt Consolidation

Enter your numbers to see how much you could save by rolling your debts into your mortgage.

Home Value

Current Mortgage Balance

Current Mortgage Rate

New Mortgage Rate

Credit Cards — Monthly Payment

Car — Monthly Payment

Other Monthly Payments

Personal loans, student loans, etc.

Total Balance of Debts to Pay Off

Consolidation Snapshot

Est. Monthly Savings

Current mortgage (P&I)$0

Current other debt payments$0

Total current monthly obligations$0

New mortgage (all rolled in)$0

Available equity (80% LTV)$0

Equity sufficient?Enter numbers above

These are estimates. Jorge will run your real numbers.

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Types of Refinance Available

Rate-and-term refinance: Lower your interest rate or change your loan term
Cash-out refinance & debt consolidation: Access your equity to pay off high-interest debt and lower your total monthly obligations
FHA Streamline: Simplified refinance for existing FHA borrowers with minimal documentation
VA IRRRL: Interest Rate Reduction Refinance Loan for existing VA borrowers — fast and simple
Bank Statement refinance: For self-employed borrowers who qualify using deposits instead of tax returns
No Income refinance: Qualify based on home equity alone — no income documentation needed

Closing costs typically run 2–4% of the loan amount. In many cases these can be rolled into the new loan so you don’t need cash upfront. Jorge will show you the total cost and your break-even point — how many months until the savings offset the closing costs — before recommending anything.

Yes. Jorge offers Bank Statement refinances (using deposits instead of tax returns) and No Income refinances (qualifying on equity alone) — both specifically designed for self-employed homeowners.