Score 35-45: Your financial health is excellent.
You’re on top of your debt, your mortgage, and your retirement planning for the future. Give yourself a pat on the back, and take some time to reassess your finances. Depending on current mortgage interest rates, you may save even more money on your monthly mortgage payment with a refinance.
Score 25-34: You’re in good financial health with room for improvement.
There’s no shame in changing your monetary habits so you can move closer to your financial goals. If necessary, meet with a financial advisor, who can help you focus on consolidating debt and sticking to your monthly budget. You can also meet with your lender to double-check that your mortgage isn’t holding you back.
Score 15-24: You’re in need of some financial health care.
Getting the support you need right now can make a big difference in your finances. It helps to track your budget (we love the Mint app that will also give you your free credit score) so you know exactly how your money is being spent. If debt is out of control, a financial advisor can walk you through the steps of consolidation, which may include a mortgage refinance with a cash out to help you pay off debt. As always, your lender is here to help answer any questions as you make a new financial plan.
No matter where you stand, having a good relationship with your lender is a significant part of staying in good financial health. If we haven’t talked in a while, please drop us a line. We can help you reassess your financial goals to make sure your mortgage is on track.
Cornerstone Home Lending, Inc. is not a Financial Advice or Financial Planning company. This is for educational purposes only. Please contact your qualified professional for specific guidance.
Sources are deemed reliable but not guaranteed.