Can I refinance to consolidate debt with a $650k mortgage?

T

Timbapandjuli

New Member
Consolidation – any brokers around that could possibly help refinance our home and consolidate? House worth approx 1.05-1.1mil… owe about 650k. I just want to be bundling,in a credit card and a personal loan – and hopefully the car loan. Mrs is on maternity leave… so it may impact it – but worth a shot. Getting paid monthly would be easier if we just had the single repayment.
 
You've got solid equity to work with. Rolling the credit card, personal loan, and car loan into the home loan can simplify things and improve your monthly cashflow, but the bi factor will be servicing especially with your wife on maternity leave.

There are lenders who'll use her maternity leave income if she has a confirmed return to work date and a letter from her employer. If not, we can still assess based on your income alone.

Consolidating the debts gets rid of those monthly repayments from the servicing side, which usually helps the numbers stack up.

If you want, I can run the numbers and tell you exactly what's possible. Happy to take a look.
 
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