Credit card debt is at an all-time high, and many people are relying on credit cards more than ever before. The challenge? Those high interest rates make it tough to get ahead. Credit card companies know this and that’s how they profit.

But if you’re a homeowner here in the Poconos, there’s good news: your home can actually help you break free from that cycle.

How a Debt Consolidation Refinance Works

If you’ve built up equity in your Poconos home, you can use it to pay off high-interest credit card balances and other debts. By consolidating everything into one lower-rate mortgage payment, you can simplify your finances and reduce your total monthly expenses all while keeping your home working for you.

Benefits of a Debt Consolidation Refinance

Lower interest rates – Many credit cards charge 20% or more in interest. Rolling that debt into your mortgage can dramatically reduce the rate you pay.

One simple payment – Instead of juggling multiple due dates and minimum payments, you’ll have just one monthly mortgage payment to manage.

 Improve your credit score – Paying off credit card balances can lower your credit utilization ratio, which may boost your credit score over time.

Free up cash flow – Reducing high-interest debt gives you breathing room for what really matters whether that’s catching up, saving for the future, or simply enjoying more of what the beautiful Poconos lifestyle has to offer.

What Are the Costs?

Closing costs can vary depending on your situation, but the good news is they can often be rolled into the loan amount meaning little to no out-of-pocket cost. Sometimes, depending on your property and loan type, you may even qualify for an appraisal waiver.

Every situation is unique, but if you’re carrying high-interest debt, a debt consolidation refinance could be a smart move toward long-term financial stability and peace of mind right here at home in the Poconos.