Refinancing means you get a new loan to pay out an existing loan.Consolidating is a type of refinancing that usually means getting a new loan to pay out a number of other loans.We know that it can be hard to ask for help with your debts, so we do everything we can to answer your call quickly, provide you with the information you are looking for and book you a free credit counselling appointment if that’s what you need.Our appointments are either in-person, in one of our offices, or over the phone; whatever is easier for you.Student loans with low interest rates or medical expenses with no interest should not be combined in a refinanced mortgage if you can pay the monthly payment without problem after refinancing.

Many homeowners take cash out to pay off high-interest debt or make home improvements.Talk with a PNC Mortgage loan officer to find the right solution for you.The average credit card interest rate is around 15%.First of all, when you are looking to reduce your debts and make your monthly payments easier, you should look at refinancing your mortgage to include these other debts.Other debts you should consider when consolidating are those with a higher interest rate.In most cases, debt consolidation is more expensive than keeping your loans as they are.Avoid debt consolidation companies as they usually charge exorbitant fees.