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Debt consolidation mortgage: Great rates and easy plans

One of the biggest advantages of a debt consolidation mortgage is having a fixed interest rate, which is normally a lot lower than credit cards. Dropping interest rates are a good time to apply for a debt consolidation mortgage. We'll discuss this more below.

(If you wish to skip debt consolidation mortgage tips and go straight to our website that has the best mortgages with the best rates on the Internet, click here.)

Most brokers will advise homeowners to refinance when rates drop at least two percentage points. Now, refinancing is common with a one-point drop, sometimes even less. And during a refinance boom, it's not uncommon for people to refinance when rates drop as little as one-half of a percentage point. This is usually an excellent time to apply for a debt consolidation mortgage.

Don't make the mistake of using your credit cards as a permanent second mortgage or home improvement loan. A debt consolidation mortgage has the advantage of a fixed interest rate, predictable monthly payments, and possible tax savings. You can put the equity in your home to work for you.

When completing your debt consolidation mortgage application, you may feel there are relevant factors, which should be mentioned regarding your credit history or your ability to repay the loan.  Many times there are circumstances, which aren't preventable, but the banks don't seem to listen. Make sure you provide the details in the space provided on your online loan application form, fully completing all sections of the form. The more information they have, the faster the debt consolidation mortgage can be processed.

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