Should You Refinance to Pay Off Debt?

Debt consolidation made easy for PA & FL homeowners

If you’re like many homeowners in Pennsylvania or Florida, you may be feeling the weight of monthly debt payments — credit cards, personal loans, auto loans — all piling up on top of your mortgage. Even if you’ve built solid home equity, you might still wonder: Is refinancing to consolidate my debt a smart move right now?

The truth is, refinancing can be a powerful way to reduce your monthly expenses, simplify your financial life, and even start fresh — but only if the numbers make sense.

That’s why we’re excited to offer a completely free, personalized Debt Consolidation Refinance Report. This powerful tool breaks everything down for you: side-by-side comparisons, monthly savings, long-term equity, and even how much interest you could save.

And yes — if you own a home in PA or FL, you can get this report tailored specifically to your situation.

What Exactly Is a Debt Consolidation Refinance?

A debt consolidation refinance allows you to tap into your home equity and use it to pay off other higher-interest debts. Instead of juggling multiple payments at different rates (and often with much higher interest than your mortgage), you wrap it all into one monthly mortgage payment — ideally at a lower overall cost.

This type of loan can:

• Lower your monthly payments
• Simplify your finances with one consolidated bill
• Save you thousands in interest over time
• Help improve your credit by reducing utilization

But how do you know if it’s the right move for you?

That’s where this custom report comes in.

Let’s walk through what’s inside this report and how it helps evaluate whether a debt consolidation refinance makes financial sense.

Front-End & Back-End Ratios: Know Your Limits

Right at the top of the report, you’ll find a breakdown of your front and back ratios—two key metrics used by lenders to evaluate loan eligibility:

• Front-End Ratio: This is your housing expense (PITI) divided by your gross monthly income.
• Back-End Ratio: This includes total monthly debt payments (including your mortgage) divided by gross monthly income.

The report displays:

• Your current front and back ratios
• The maximum allowable ratios
• How much your new monthly payment is over or under the thresholds

This is a quick way to know if you’re within lending guidelines—or if some debt payoff adjustments might help you qualify.

Available Cash In-Hand & Debts to Pay Off

Next up, the report shows how much cash you’ll have available from the refinance—often from a cash-out refinance. Here’s where it gets interactive:

• You (or your loan officer) can check off which debts you’d like to include in the refinance.
• As you select or deselect debts, the subtotal, cash in-hand, and total loan amount will update in real time.
• You can also adjust the available cash by reducing the total loan amount, giving you flexibility to tailor the refinance to your goals.

Best part? The tool instantly shows whether you’ll have monthly savings or a deficit based on which debts are included.

Savings Summary: Dollars, Time, and Payments

This section is where the benefits really shine. It displays:

• Monthly Savings: If consolidating your debts saves you money each month, the dollar amount appears in green.
• Savings Applied to Principal: You can simulate what would happen if you applied those monthly savings toward your mortgage principal. Spoiler: it can cut years off your loan.
• Time & Payment Savings: Shows how much sooner you could be debt-free, and how many fewer payments you’d make.

Existing vs. Proposed Loan Scenarios

Now you get to see a clear, side-by-side comparison between your current financial picture and what it would look like after refinancing:

• Mortgage Balances and Unconsolidated Debts
• Year-by-year comparisons of loan balance, interest paid, and equity growth
• Final row shows your position at the end of the loan term

This gives a tangible sense of what you’re gaining in both the short and long term.

Total Savings Breakdown

Wondering how much you’d actually save by consolidating your debt?

This section totals up your savings in:

• Dollars
• Years

It also explains how those figures were calculated—assuming only minimum payments on your revolving debts, which helps give a realistic baseline for comparison.

Monthly Payments Before & After

Next, the report compares your current total monthly payments (mortgage + other debts) against the new total payment after consolidating. This is where clients often realize how much they can free up in monthly cash flow.

Loan & Equity Details

Here, the report outlines:

• The details of your existing loan
• Your proposed loan terms
• Your current home equity
• How much equity will remain after the refinance

It’s a great overview to understand the broader impact on your financial picture—not just monthly payments, but wealth-building potential too.

Making Edits

Need to adjust something? The report is fully editable.

With just a click, you can:

• Add or update debts
• Change client or co-borrower info
• Modify existing loan terms
• Edit property details
• Adjust proposed loan structure

It’s flexible, easy to navigate, and incredibly helpful for tailoring the refinance to fit your client’s exact needs.

Who Is This For?

This report is ideal if you:

• Own a home in Pennsylvania or Florida
• Have multiple debts you’re paying monthly (credit cards, loans, etc.)
• Want to explore ways to reduce your monthly expenses
• Are considering a cash-out refinance
• Are unsure whether a refinance is worth it — and want to see the numbers

At Innovative Mortgage Brokers, we specialize in helping homeowners across Pennsylvania and Florida find smart, tailored mortgage solutions—whether you’re buying, refinancing, or looking to consolidate debt. With access to a wide range of lenders and programs, we go beyond the one-size-fits-all approach that big banks offer. Our process is personal, transparent, and built around your goals. Backed by over 15 years of experience, we’re here to guide you through every step and help you make confident, well-informed financial decisions.

Final Thoughts: Clarity Creates Confidence

This Debt Consolidation Refinance Report isn’t just a calculator—it’s a strategic planning tool that empowers clients to see the big picture. It helps answer the most important question:
“Is refinancing and consolidating my debt really worth it?”

For many, the answer is yes—and this report lays it out clearly in black and white.

Want to explore whether a refinance could help you save money, simplify your finances, or build equity faster? Let’s talk. I’d be happy to walk you through your own personalized version of this report.

Ready to get started? Let’s take a closer look at your numbers.