Pay off  high interest non tax deductible credit cards and installment loans.

Minimum payments are usually 3% on credit cards. There are no tax deductions for credit card debt. Mortgage interest, on the other hand, is usually tax deductible.

Source	Amount	Rate	1st yr interest	Mo Payment	1st yr (tax)
Credit Card	$30,000	20%	$6,000	900(3%)	0
Mortgage	$30,000	6%	$1,800	179.87(30yr)	-576(CR)

 In the above example, first year interest on a $30,000 credit card balance is $6,000. First year interest on a $30,000 mortgage debt is around $1,800. However, if you are in the 28% tax bracket federal and 4% state tax bracket, you can probably deduct the interest for the mortgage payment off of your gross income, giving you a tax savings of around $576. Therefore your real interest expense on the mortgage payment is $1800 – $576 = $1,224. This is $4,776 less than the interest on the credit card debt in the first year! The first year after tax interest rate on the above example is  4.147%. *

Your mortgage rate is about to adjust.

Your payments could increase dramatically, putting you in a financial bind. See the differences in payments: **

Loan Amt	Interest Rate	Monthly Payment
$300,000	6% 30 yr fixed	$1,798.65
$300,000	9% 30 yr (average)	$2,413.87

Lower your payments and interest rate and create a greater cash flow.***

Loan Amt	Rates	Monthly Payment	Increase Cash
$300,000	6% fixed	$1,798.65	0
$300,000	6% interest only	$1,500 .00	$298.65 per mo
$300,000	1.5% start payment	$375.00 (1st yr)	$1,423.65  per mo

  You can also take cash out to pay taxes, pay a settlement, create a nest egg, invest high and borrow low, start a business, protect your assets, fund an IRA, buy investment property, make property improvements, and more. Remember that mortgage interest is usually tax deductible giving you an after tax rate substantially less than the APR rate.

Not refinancing is costing you money, often times over $100 per day. Not buying that house costs you even more. We are a sure thing - not like the stock market. Contact us for a full analysis. Most closings take from one to two weeks.

* Example doe not include payments for taxes, insurance, mortgage insurance, points, closing costs. ** Example assumes 30 year interest rates of 6 & 9&. Variable interest rate may fluctuate and go higher or lower during life of loan in which case results would differ. *** Interest only may go on for period agreed upon by borrower and lender but not likely for a 30 year term. 1.5% is a starting payment rate that would likely to incur negative amortization during the first year, If payment rate is below interest rate, negative amortization will occur. Payment rate will increase over the first seven years until rate is achieved to pay off loan over a 30 year term. Yearly rate and adjustment caps apply. Interest rate based on an index for this option arm product. Borrower must qualify at full starting interest rate with appropriate credit score and application.  These are hypothetical examples to illustrate points and not an offer to lend money or give anyone a mortgage.