Rid yourself of high interest holiday debt

Your Mortgage Matters by Vancouver Mortgage Broker Rebecca Awram

Plan to minimize spending that’s racking up interest on credit cards/unsecured loans

mailbox full of high interest credit card statementsMany people suffer from post New Year’s hangovers as their holiday spending account statement sbegin to arrive in their mail/inbox. This year start the year off with a plan to minimize your monthly expenses and your interest carrying costs by conducting a no-cost, no obligation financialcheck up with your Origin Mortgage Advisor.

They are uniuqely equipped to provide both mortgage, unsecured and RSP loan options to assist you in having a plan for 2013…and beyond.

As an example, please see before and after scenarios for clients that took steps to rid themselves of high interest debt, and their result was a monthly savings of $1670 and an ability to reduce their mortgage amortization by 10 years.

Before Balance Payments After Balance Payments
Mortgage $250,000 $1390.00 $300.00 $1434.00
Car Loan $15,000 $439.00 $0 $0
Credit Cards $25,000 $750.00 $0 $0
RSP Loans $10,000 $525.00 $0 $0
Total $300,000 $3104.00 $300,000 $1434.00

Monthly Savings of $1670!

You can use these savings to eas your monthly cash flow, and/or apply it to pay your mortgage down faster! For example, by putting $800 of the $1670 of the new cash flow savings against the mortgage, you can reduce the amoritization by 10 years and save almost $40,000 in interest over the mortgage term.

Origin Mortgage Advisors who have access to low rate Visa Cards with initial rates as low as 4.9% and ongoing rates as low as 9.9%. These Visa Cards are specially designed to help you minimize your interest costs if a new mortgage advance cannot completely payout your higher interest debt.

Get a financial check-up from a mortgage broker

Start the New Year right with a no cost, no obligation financial check-up with your Origin Mortgage Advisor. Call Vancouver Mortgage Broker Rebecca Awram at 604-612-2382 for more information.

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