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Blended Rate

Blended Rate Options

This is your limited time opportunity to

Consolidate Debts and Keep Your Low Rate!

If your credit card debt is getting difficult to manage but you have already locked in a low interest rate on your home mortgage that you don’t want to give up, a blended rate may be a good solution.

A 6.50% may not sound like a great rate for a mortgage if you already have a 2.50%, but what if you could get a  3.50% or less and save hundreds every month?  Consider 2nd lien financing...

A fixed-rate 2nd lien can be a great tool to lower high-interest debts and significantly reduce your monthly payment liability without needing to give up your low rate on your primary mortgage.  The example below illustrates the "blended rate" of a 1st and 2nd lien mortgage, and the monthly cost savings.

No Cost VA Loans can deliver a personalized blended rate scenario and help you decide if a blended rate program is right for you.

If your 1st lien mortgage looks like this:

Loan Amount: $600,000

Interest Rate: 2.50%

Term: 30yr

Monthly Payment: $2,371

(Principal & Interest Only)

…And Credit Card Debt like this:

Loan Amount: $50,000

Interest Rate: 19.770%

Term: Revolving

Est. Monthly Pymt: $959

YOU COULD GET A BLENDED RATE OF 3.033%, KEEP YOUR 2.50% ON YOUR PRIMARY MORTGAGE, AND REDUCE MONTHLY LIABILITY PAYMENT BY $541¨

Second (2nd) Lien Terms***:

Loan Amount: $50,000

Interest Rate: 9.425% (9.769% APR)

Fixed 30year Term

Monthly Payment: $418/mo

**Blended rate is the combined rate of the 1st and 2nd lien loans.

***The terms of the second lien is based on a credit score of 740 and a CLTV of 80%.

 

Request Your Personalized Blended Rate Scenario

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