First Georgia Mortgage Funding

1224 Canton St
Roswell, GA. 30075

770.552.0002

Fax: 770.552.0905

Toll Free: 888.293.4663 

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Debt Consolidation 

Even if you have little or no equity in your home, you may qualify for one of our versatile loan programs which may allow you to:

• Lower your monthly debt payments by more than half
• Pay off high-interest rate credit cards
• Your interest payments may be tax deductible
  (consult your tax advisor)
• Obtain extra cash for special needs
• Have $10,000-$100,000 with terms up to 25 years!

Sample Loan:  Bill and Sue's Situation

Bill and Sue own a home that's valued at $100,000. They've been living in their home for three years and have not built enough equity to apply for a traditional home equity loan.

Currently, Bill and Sue pay nine monthly bills that add up to $790 in payments on debts that total $30,000. (Four credit cards, three department store cards, a furniture loan and a student loan.)

After talking to us, Bill and Sue realize that they can consolidate their bills and lower their $790 monthly payments by more than half! Now, they don't have to spend hours every month juggling their nine bills and they can use the cash in their pockets to do the things they enjoy!

Scott and Jill's Payment Analysis

Here is an example of how a 1st Georgia Mortgage Bank loan put  more cash in Bill and Sue's hands each month.¹

Consolidate $30,000  in Debts:	Balance of Accounts  Before  New Loan	Monthly Payments:
Credit Card #1	$ 4,380	$ 131
Credit Card #2	$ 2,875	$  86
Credit Card #3	$ 1,875	$  56
Credit Card #4	$ 2,060	$  62
Department Store #1	$ 2,750	$  83
Department Store #2	$ 2,380	$  71
Department Store #3	$ 2,580	$  77
Furniture Loan	$ 3,600	$ 130
Student Loan	$ 7,500	$  94
Monthly Payment Before New Loan: 3		$ 790

 

The 1st Georgia Mortgage Bank Advantage: "More Cash in Your Pocket" to do all the things you really want to do...

Like Scott and Jill, you can consolidate high interest credit cards and other personal loans into one lower monthly payment. Scott and Jill's One Monthly Payment is Now $485 Less!   Their current bills are paid off.   They can save more with tax-deductible interest (consult your tax advisor and the Notice of Tax Deductibility attached.)   They may have hundreds of dollars more in cash each month.

1. Hypothetical example uses an APR of 12.683% on a loan amount of $30,000 with a fixed interest rate of 11.490% for 25 years. These terms are available for "A" credit-quality applicants only. Higher monthly payments would be required for those who do not qualify for the identified loan interest rate. Interest rate may vary according to applicant's credit history and other factors. Origination fees and closing costs are included in the APR and may vary by state. Eligibility is based on the value of your home, underwriting criteria and state availability. APR, interest rate, term and credit parameters are effective as of 9/99 and are subject to change. Find out what we can do for you.
2. Payment reduction reflects first year savings. Annual savings may be reduced in subsequent years based on the remaining terms of credit card, department store and student loan debt repayment terms.
3. Credit Card and Department Store Card payments are calculated at 3.000% of the balance with an average interest rate of 18.000%. The Furniture Loan payment is calculated at 18.000% interest on a 36 month term. The Student Loan is calculated at $50.00 per $4,000 balance.

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Pre-Qualify On-line!