Austin RobertsMortgage Loan Officer
(801) 860-8649Apply now
Call (801) 860-8649Apply now

Debt consolidation, explained plainly.

Using your home’s equity to pay off credit cards, car loans and other high-interest debt can simplify your finances. It can also cost more over time if it’s the wrong fit. Here’s how it works, and how I help you decide.

Call or text (801) 860-8649Apply now

01How it works

Three steps, before anything is signed.

  1. Add it all up

    We list every debt you carry: the balance, the payment and what each one costs you.

  2. Look at your equity

    What your home is worth today against what you still owe sets what is possible.

  3. Compare the options

    Cash-out refinance, HELOC and home equity loan, side by side, costs included.

02Your three options

Side by side.

QuestionCash-out refinanceHELOCHome equity loan
What it isA new, larger mortgage that replaces your current oneA line of credit against your equityA fixed second loan against your equity
Your current mortgageReplacedStays as it isStays as it is
How you get the moneyOne lump sum at closingDraw as you need itOne lump sum at closing
Good fit whenA new mortgage would also suit youYou want flexibility, or will pay it down quicklyYou want to keep your current mortgage
Watch forClosing costs and a reset loan termPayments that can change over timeA second payment next to your mortgage
QuestionCash-out refiHELOCHome equity loan
What it isNew, larger mortgageLine of credit on your equityFixed second loan
Your current mortgageReplacedStaysStays
How you get the moneyLump sum at closingDraw as you need itLump sum at closing
Good fit whenA new mortgage suits you tooYou want flexibilityYou want to keep your mortgage
Watch forClosing costs, reset termPayments can changeA second payment

03Is it right for you?

An honest check.

Often a good fit

  • You have equity in your home
  • High-interest balances are hard to get ahead of
  • You’re ready to stop running balances back up
  • You want one predictable payment

Think twice if

  • The spending that built the debt hasn’t changed
  • Your current mortgage terms are hard to beat

04Before we talk

What I look at, and what to have ready.

A first conversation needs no credit pull. Bring what you have; we’ll fill in the rest together.

What I look at

  • Your home’s value and what you owe
  • Your credit, with a soft pull
  • Your income, however you earn it
  • What you want the next few years to look like

Have ready

  • Your latest mortgage statement
  • Pay stubs, bank statements or 1099s
  • Your homeowners insurance details

05Questions

Debt consolidation questions.

Is my home at risk?

Each of these loans is secured by your home, so missing payments puts it at risk. That is exactly why I walk through the trade-offs before you decide.

Do I need perfect credit?

No. There are options for credit that has taken a hit, and if now isn’t the time, I’ll give you a plan to get there.

I’m self-employed. Can I still consolidate?

Yes. Bank statement and P&L programs can qualify you on what your business actually brings in.

Will it lower what I pay each month?

It can, but a lower payment over a longer term can cost more overall. I’ll show you both, honestly, before you choose.

Got a no? Bring it to me.

Call, text or email me and tell me where you’re at. I’ll get back to you and we’ll find a time to go over your options.

Call (801) 860-8649Text meApply now