Got Debt? You're not alone.

[pianoman9701]

Americans have racked up $1.3T in revolving credit card debt, most of that in the last three years since their Covid savings disappeared. Interest rates on cards are as high as 34.99%, with the average being around 24%. 28% of buy now, pay later purchases from a year ago have not been paid off. A large percentage of those are delinquent. If you have a payday loan, the interest APR is 300-400%! While you're waiting for mortgage rates to come down, the money you're spending each month on interest for these debts is keeping your checking account month-to-month and eliminating your ability to save.

There is a way out of this quagmire. You can use the equity in your house to get out from under crippling debt today, while saving hundreds or even thousands in monthly payments. With quick responses from you for documents and information, I can usually close a refinance within 20 days or less. Call or message me. I'm really good at this and I can help you. 100% 5-star reviews. John Wallace NMLS #2014743. My info is on the flier!

[fowl smacker]

We are good but out of curiosity what is the interest rate on a 20 yr refinance?

[pianoman9701]

We are good but out of curiosity what is the interest rate on a 20 yr refinance?

I never quote a generic rate. There are about a dozen factors that go into quoting interest rates. Depending on those factors, they can vary by up to 2% or more. Since you're "good", it probably wouldn't be worth your time that it takes to gather all that info or the $77 for the credit check.

[pianoman9701]

The rate question is a good one @fowl smacker. Some of the online retail lenders will quote a rate of whatever and you go "ooh, that's a fantastic rate!" In the small print you'll see the APR which reflects a high loan cost and disclaimers that talk about loan size, loan term, credit score, down payment amount, first time homebuyers, etc. Within the last two weeks, two large and well known retail lenders were fined $10M for deceptive advertising practices because of how they quoted rates. You know their names. I just closed a loan where a bank had made promises but when it came time to put it on paper...crickets. Brokers normally have the best rates because our wholesale lenders don't have 100s or 1000s of offices across the country to pay for and we, as brokers, have dozens of lenders, all competing against each other for our business, from which to choose the best rates, or the fastest closings, or the best tech, or a combination of all three. We also work evening and weekends when you don't.