Low Mortgage Rate: A Silent Financial Strain on Many Families – Don’t hold on to a low mortgage rate while others debts increase!

Low Mortgage Rate: A Silent Financial Strain on Many Families – Don’t hold on to a low mortgage rate while others debts increase!

Brent Willis, CMPS

Published 4 months ago

Hello,

Managing multiple debts is tough - a low-interest mortgage, high-interest credit card debt, a Home Equity Line of Credit whose rate has only gone up with the FED Rate Hikes and now, the reintroduction of the student loan payment. It's overwhelming and can create a significant financial burden.

Example: Your 3.5% fixed-rate mortgage is an excellent deal; no doubt about it. However, your Credit Card and Equity Line debt of $150,000, at a blended rate of 13.1%, and student loans of $90,000 at 6.12%, are hefty obligations with high rates that can eat into your savings.

Moreover, with the federal student loan repayment moratorium ending on Sept. 1, 2023, this financial burden is set to increase further. This change could affect your ability to refinance in the future, as the increased monthly payment might push your total debt to a level where refinancing is no longer an option.

That's why now is the perfect time to consider our "Credit Consolidator Refi." This plan consolidates your high-interest debts into your mortgage, simplifying your finances into one manageable payment. It may also reduce your interest over time, helping you become debt-free faster. ( see the video above for details )

Let's ACT NOW to take control of your financial future before the student loan payments restart. I'd love to discuss how this refi can benefit you.


................................................



Calculating the blended rate, student loan payment, and potential savings.


➡️ Blender Rate

A blended interest rate is the weighted average interest rate of two or more loans. It's calculated based on the amount of each loan and its respective interest rate. Here's how you would calculate the blended rate for the example I'm laying out here:

First, determine the total interest being paid on each loan:

Home Equity -$100,000 * 9% = $9,000
Credit Cards - $50,000 * 23% = $11,500
Then, add the total interest together and divide by the total loan amount:
($9,000 + $11,500) / ($100,000 + $50,000) = 0.137 or 13.7%

So, the blended interest rate of your $100,000 HELOC at 9% and your $50,000 in credit card debt at 23% would be approximately 13.7%. This rate gives you an overall picture of the interest you're paying on your combined debt.

.....................

➡️ Student Loans

Details:
LOAN AMOUNT & RATE
90k @ 6.1%

Before Student Loan Refi:
STUDENT LOAN PAYMENT
$1,000 / Month

After Student Loan Refi:
STUDENT LOAN PAYMENT
$500/Month

LOWER STUDENT LOAN PAYMENTS BY
$500/Month

Loan Calculator To Run The Numbers For Yourself
https://myloansense.com/l/brent-willis


.............................................



Your Next Steps:

Step 1: Complete Your Loan Application - https://myhome.neohomeloans.com/homehub/signup/brent.willis@neohomeloans.com

Step 2: Once we have your application, then we will issue a detailed needs list to gather and return your documents

Step 3: With the loan app, and paperwork, we will push the file into UW and move forward.

Recent Reviews

"Working with Brent Willis and his team was incredibly easy! They walked me through every step, kept me up to date as the process moved forward, and most importantly, delivered the $$$ goods on time!"
– Nishikant T.

5.0

Gordonsville, TN
"I had a great experience. Was always kept in the loop and notified when documents were needed."
– Jacob S.

5.0

Review Verified
Navarre, FL
"Everyone had excellent communication. Brent stayed calm during an interesting experience (due to circumstances out of his control)! He gave good advice and kept us moving forward. He always had a plan B."
– Angela H.

5.0

Review Verified
Navarre, FL
"Great team, great communication!"
– Larry H.

5.0

Review Verified
Old Hickory, TN
"My wife and I were new to the housing market and loan process. The team at NEO made it a smooth and comfortable experience. My wife Chelsie and I in review are beyond grateful for our experience! NEO’s team was always available and responsive to our questions and needs. Zero complaints from the Kagay family! Thanks again!"
– Colin K.

5.0

Review Verified
Old Hickory, TN
"Communication and explaining the process was huge for us since it was our first time."
– Chelsie K.

5.0

Review Verified
Old Hickory, TN
"Our experience was great because your team was available for us and made this whole process smooth and easy."
– Chelsie K.

5.0

Review Verified
Lakewood, TN

4.2

Review Verified
Panama City Beach, FL

5.0

Review Verified
"I cannot put into words how easy it was to purchase my new house. There was constant communication, and I felt like Brent and his team had my back every step of the way. Everything was done online, so there was not driving back and forth, or lenghty meetings. Closing was the only real time event and it was so smoothe. I look forward to working with Brent and his team long after this sale to help keep my new house in perfect condition. Thanks so much, Brent and team!"
– Mark W.

5.0

Review Verified
Franklin, TN
"Less lengthy emails. More straight forward options and consequences. The why's don't matter as much to someone who is not in the profession."
– Thomas R.

3.0

Review Verified
Miramar Beach, FL
"My experience with NEO Home Loans was top-notch. We had a very short turnaround from property choice to closing and this team made it feel seamless. The communication throughput was proactive and timely. Brent took the time to walk me thru all of my questions thru each phase and the entire team was 5-Star. Our closing attorney (out of state), even made the comment that in here 25 years in the business, this was the best Mortgage company she has ever worked with."
– Kevin F.

5.0

Review Verified
"Brent was fantastic and made this a very simple transaction. I normally have to stay on top of the lenders in a transaction but not Brent. Ready to close 2 weeks early........that Never happens. Thank you Brent for being AWESOME."
– Renda F.

5.0

Hermitage, TN
"I never felt confident in my ability to buy a home until I met Brent Willis. He and his team gave us so much confidence & that enabled us to move forward in our home buying journey. I can absolutely say that Brent is THE person to have on your team. My husband and I are so grateful for his time in educating us and preparing us for this next season."
– Roxana Delaire B.

5.0

Review Verified
Columbia, TN
"Always being available and answering the phone to walk us through the process, to help us understand things, and to calm fears when it felt like we’d never get theough the underwriting process."
– Jon-michael William E.

5.0

Review Verified
Goodlettsville, TN
"Brent orchestrated several transactions that had to work out for the loan to happen. He was both patient and effective bringing together multiple parties to get the loan through."
– Wallace Danley R.

4.9

Review Verified
Nashville, TN
"Really appreciated the team's willingness to respond to any questions that we had during this process. The team also communicated very well to us during this time."
– Porter M.

4.9

Review Verified
"Brent and the team are great to work with! - Great communication all along the way."
– Dillon Bowman .

5.0

"Brent and the team are great to work with! - Great communication all along the way."
– Dillon Bowman .

5.0

Hendersonville, TN
"Clear and effective communication, - We had some hick-ups with the App but I am sure that'll be sorted out as they put miles on the platform."
– Dillon B.

5.0

Review Verified
Nashville, TN
"We are so incredibly appreciative of how hard the team worked in order to close our loan fast… We never expected to be moving and to have this team support mental a lot"
– Kalee Willingham B.

5.0

Review Verified
Nashville, TN
"Everyone involved in my process was immediately responsive and pleasant no matter what was going on. The speedy approval to close in 10 days was incredible and accomplished by consistent pressing through of the whole team."
– Joanne M W.

5.0

Review Verified
Franklin, TN
"Brent and his team were responsive, supportive, and timely throughout our whole experience."
– Angela P.

5.0

Review Verified
Franklin, TN
"Communication! Brent and Linda were always available to answer any and all questions, and explain in detail items that came up. Thank you to the team at NEO for the loan approval process. Brent, you and Linda have been a godsend. kge"
– Katherine Garner E.

5.0

Review Verified
Franklin, TN
"Brent and his team kept in contact and left no stone unturned. They answered questions swiftly and took all of the worry out of the process. I can not recommend them enough."
– Adam S.

5.0

Review Verified
"Brent is fantastic and will bend over backwards to make sure you are taken care of. I recommend him to anyone I can."
– Brett M.

5.0

Watertown, TN
"Linda and Brent are an amazing team helping with the information flow and being proactive with the deliverables. Great team"
– James L.

4.7

Review Verified
Nashville, TN
"Very smooth and easy process compared to other mortgage lenders I've dealt with"
– Cyrus K.

5.0

Review Verified
"Working with Brent Willis and his team was incredibly easy! They walked me through every step, kept me up to date as the process moved forward, and most importantly, delivered the $$$ goods on time! What more could you ask for? Jim B"
– Jim B.

5.0

5.0

5.0

"Working in the real estate business myself, I interact with dozens of lenders every month. In my experience, the best lenders are the ones who proactively communicate with their clients and the realty teams serving them. After all, communication fosters action, and keeping things moving forward is integral to a smooth closing. Brent Willis is one of those lenders. With Brent and his team, I never have to guess where we are in the financing process. I already know, because they proactively communicate every step of the way. This not only provides peace of mind, but also frees up my time because I don't have to chase anyone down for an update. Brent also does something not many lenders do anymore: he will take the time to educate clients and Realtors on the specifics of the home ownership process. Not just during the contract-to-close phase, but guidance and information for after the sale concludes. This puts him in rare company, and easy to recommend."
– Martin K.

5.0

"My team loves working with Brent and his team. We never have to ask for updates and they go over and above with communication and not only meeting expectations but exceeding them."
– Shanda K.

5.0

"More then 5 stars!!! For someone buying a house for the first time and not understanding anything. Y’all answered all my questions, very professional, all super friendly, made us feel comfortable, and everyone envolved was super helpful! Thank y’all, my babies are so excited to have a house to call home!!"
– Ashley H.

5.0

Debt Consolidation Calculator- TRY IT!

Brent Willis - Student Loan Debt Restructure Calculator

NEO Home Loans - Branch Manager

1860084

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