By Terry Savage on December 17, 2023 | Financial Planning / Retirement

Hello Ms. Savage: If you please, I am thinking about refinancing my home using my VA benefits. Do you think it’s a good idea to go through the process of changing my mortgage from a bank to the VA? I don’t owe that much anymore, but if I can roll my credit card debt and car finance into a new mortgage, would it be a great move?

Terry Says

That depends on the interest rate you currently have, and what the VA would charge on a new mortgage. And it depends on your current income and credit.
And it also depends on the monthly payment on the new mortgage, and whether you could afford it.

BUT MOST OF ALL, it depends on whether you can trust yourself not to run up any new, expensive credit card debt!!

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