Calgary Mortgage BrokersDoes a Lower Interest Rate Mean I’ll Save Money?<br />http://www.mortgagebrokercalgary.info<br />
How To Tell What Your Overall (Average) Interest Rate Is<br />(debt balance 1 x decimal value of interest rate)+(debt bala...
An Example<br />Loan 1 balance: $10,000<br />Loan 1 interest: 10%<br />Loan 2 balance: $5,000<br />Loan 2 interest: 7%<br ...
Why Would You Consolidate?<br />Lower payments<br />Pay less interest<br />Pay loan off faster<br />One payment, rather th...
Thank you!<br />Trevor Hickey, B.A.<br />Mortgage Associate <br />Concord Mortgage Group Ltd.<br />#107 - 1905 Centre Stre...
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Debt Consolidation Calgary

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http://www.mortgagebrokercalgary.info - debt consolidation tips from Calgary mortgage brokers

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  • http://www.mortgagebrokercalgary.info - great tips on debt consolidation in Calgary, from Calgary Mortgage Associate Trevor Hickey, B.A.
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Debt Consolidation Calgary

  1. 1. Calgary Mortgage BrokersDoes a Lower Interest Rate Mean I’ll Save Money?<br />http://www.mortgagebrokercalgary.info<br />
  2. 2.
  3. 3. How To Tell What Your Overall (Average) Interest Rate Is<br />(debt balance 1 x decimal value of interest rate)+(debt balance 2 x decimal value of interest rate)+…<br />                                           debt balance 1 + debt balance 2 + debt balance 3 + …<br />
  4. 4. An Example<br />Loan 1 balance: $10,000<br />Loan 1 interest: 10%<br />Loan 2 balance: $5,000<br />Loan 2 interest: 7%<br />Loan 3 balance: $7,500<br />Loan 3 interest: 6%<br />($10,000 x 0.10)+($5,000 x 0.07)+($7,500 x 0.06) = $1,000 + $350 + $450 =  $1,800 = Average<br /> ($10,000 + $5,000 + $7,500)                     $10k + $5k + $7,500     $22,500   (0.08) 8%<br />
  5. 5. Why Would You Consolidate?<br />Lower payments<br />Pay less interest<br />Pay loan off faster<br />One payment, rather than 2, 3 or 4<br />Why a mortgage – why not an unsecured loan? Answer: Mortgage money is usually cheaper!<br />
  6. 6. Thank you!<br />Trevor Hickey, B.A.<br />Mortgage Associate <br />Concord Mortgage Group Ltd.<br />#107 - 1905 Centre Street NW<br />Calgary, Alberta<br />T2E 2S7<br />Bus: (403) 290-1990<br />Cell: (403) 860-8738<br />Fax: 1-888-587-1426<br />Email: trevor@concordmortgage.ca<br />Website: www.mortgagebrokercalgary.info<br />

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