Refinancing to a lower rate can be a great way to improve monthly cash flow and reduce the overall cost of your mortgage. With that said, there are generally closing costs associated with any mortgage so it is important to weigh benefits against the cost of refinancing. Salvation Financial offers a ‘no-cost’ refinance option to borrowers with qualifying circumstances. In order to achieve a ‘no-cost’ refinance, we will provide a cash credit to the borrower which is equal to the closing costs.

Getting a lower rate is nice but nothing beats lowering your rate without paying the closing costs! Qualification for the ‘no cost’ refinance is dependent upon a number of factors including the present interest rate, loan balance, and the strength of the borrower’s credit. If you think you may benefit from a lower rate, give us a call and we’ll be happy to provide a free analysis. As with all our loan products, you’ll never have to worry about a pre-payment penalty or application fee.

A refinance for debt consolidation can be a powerful tool to reset your financial picture and improve monthly cash flow. Mortgage interest rates are generally lower than rates on credit cards and other debt obligations so tapping your equity may be a sound financial solution. Interest may also be tax deductible depending on your annual income.

Salvation Financial will analyze all of your debt obligations and discuss your financial goals to determine if debt consolidation is the right choice for you. We also offer a free credit report analysis to see if action can be taken to improve your credit score for a better interest rate prior to application. As with all Salvation Financial products, our Loans for Debt Consolidation never carry a pre-payment penalty and there is no application fee.