ONE PAYMENT.
ONE LOWER RATE.
ZERO STRESS.
Roll your high-interest credit cards, medical bills, and personal loans into a single mortgage payment — often hundreds less per month. Use the equity you've built to take back control.
Takes 2 minutes · No credit impact · No obligation
Average Customer Savings
$847
per month
Before
CC's @ 24% APR
$2,180/mo
After
Single mortgage payment
$1,333/mo
*Example based on $80K consolidation at current rates. Your savings will vary.
30+
Years Lending
$2.1B+
Funded
5,000+
Families Helped
21 DAY
Avg. Close
The Real Math
YOUR DEBT IS
ROBBING YOU.
The average American household carries $7,951 in credit card debt at rates above 22%. Add a personal loan, medical bills, and a car payment — and you're sending thousands every month to interest alone.
Meanwhile, your home has been quietly building equity. That equity can erase those high-interest payments today.
Credit Card APR
22-29%
Compounding daily
Personal Loan APR
12-18%
Fixed monthly
Medical Debt
8-15%
After collections
Mortgage Rate*
6-7%
Tax-deductible interest
*Rates shown are illustrative ranges. Your actual rate depends on credit, equity, and market conditions. Consult a tax advisor regarding deductibility.
How It Works
FROM CHAOS TO CLARITY
IN FOUR STEPS.
List Your Debts
Tell us what you owe — credit cards, personal loans, medical bills, auto debt. Everything you want to consolidate. No judgment.
We Run The Numbers
We calculate your home's available equity, today's rates, and what your single new payment would be. You see total savings before deciding anything.
Approve & Close
Our team handles paperwork, appraisal, and underwriting. Most cash-out refis close in 21-30 days. We keep you updated every step.
Debts Paid. Done.
At closing, we wire payoffs directly to your creditors. You walk out with one mortgage payment and a clean financial slate.
A friendly heads-up: Consolidation works best when paired with a plan to keep credit balances low going forward. We'll talk through that with you — no lectures, just real strategy.
Run Your Own Scenario
SEE YOUR
NEW PAYMENT.
Plug in your numbers. See exactly what consolidating your debts into a refinance could save you each month.
Watch · 2 Minutes
LARRY EXPLAINS
THE STRATEGY.
A quick walk-through of how cash-out refinance for debt consolidation actually works — when it makes sense, when it doesn't, and the questions to ask before you commit.
- When refinancing beats a HELOC
- How much equity you really need
- The trap to avoid after closing
Cash-Out Refi for Debt Consolidation
Larry Steinway · New American Funding
30+
Years
Meet Your Lender
LARRY STEINWAY
Regional Manager · VP of Residential Lending
New American Funding · NMLS# 223579
For three decades, I've helped families across Illinois turn home equity into financial breathing room. Debt consolidation isn't about judgment — it's about math. And the math, when done right, can give you back $500, $800, even $1,500 a month.
I'll evaluate your full picture — your debts, your equity, your goals — and tell you straight up whether a cash-out refi is the right move. If it's not, I'll tell you that too. That's what 30 years has taught me.
Top Producer
NAF Recognition
Licensed in IL
+ multiple states
No pressure conversation · Real numbers
Real Stories · Real Savings
FAMILIES WHO
GOT THEIR LIFE BACK.
"We had $62K spread across five credit cards and a personal loan. Larry rolled it all into our refi and dropped our total monthly outgoings by $1,140. No lecture, no judgment — just a plan. We're sleeping again."
Maria & Tom
Evanston, IL · Saved $1,140/mo
"Medical bills from my surgery wiped us out. Larry showed me we had $90K in equity I didn't realize. Closed in 24 days, paid off the hospital, two cards, and our auto loan. One payment now. Game changer."
David R.
Skokie, IL · Saved $890/mo
"I called three other lenders. Larry was the only one who actually ran the math instead of pushing a HELOC. Turned out a cash-out refi saved us $640 more per month than the home equity line would have."
Jennifer K.
Northbrook, IL · Saved $720/mo
Trusted · Licensed · Verified
NMLS Licensed
#223579
Top Producer
NAF Recognition
5-Star Rated
Hundreds of reviews
Equal Housing
Lender
Common Questions
STRAIGHT ANSWERS.
NO RUNAROUND.
Will my credit take a hit just to find out what I qualify for?
No. The pre-qualification we do upfront is a soft inquiry — it doesn't affect your credit score. You'll get a real picture of your savings before any hard pull is needed.
How much equity do I need to consolidate my debts?
Most cash-out refinance programs let you borrow up to 80% of your home's value (sometimes higher with FHA or VA). So if your home is worth $400K and you owe $200K, you may have up to $120K in accessible equity. We'll calculate yours specifically.
Doesn't refinancing reset my mortgage to 30 years again?
It can — but you have options. We can structure a 15, 20, or 30-year refi based on what payment fits your budget. Many clients still come out paying less in total interest because credit cards at 24% destroy budgets faster than a longer mortgage at 6-7%.
What credit score do I need?
Conventional cash-out refinances typically start around 620. FHA cash-out can go lower. Your credit may already be impacted by the very debts you're trying to pay off — and once those are gone, your score often improves significantly within months.
How long does the whole process take?
Most cash-out refis close in 21-30 days from application. There's also a federal 3-day rescission period after closing before funds are disbursed to your creditors. We move fast and keep you posted at every step.
Is this right for everyone with debt?
No — and I'll tell you straight if it isn't. If your debt is small, your equity is limited, or your current rate is already excellent, other strategies may serve you better. My job is to give you the math, not push a product.
Stop Paying More Than You Have To
YOUR EQUITY IS
WAITING.
YOUR FRESH START
IS A CLICK AWAY.
See your total monthly savings in 2 minutes. No credit impact. No commitment. Just real numbers from a 30-year veteran who'll shoot you straight.
Takes 2 minutes · No credit impact · No obligation
