How It Works. From Application to Debt-Free
We believe in demystifying the process, so you know exactly what to expect. Here’s a clear, step-by-step look at how Unum Credit Home Loan turns your home equity into a debt consolidation solution
Step 1: Apply Online & Tell Us About Yourself
Begin by completing our easy online application (or if you prefer, call us and we’ll assist). We’ll need some basic details about your property – for example, and your home’s estimated value. Don’t worry if you don’t have exact numbers; rough figures are okay to start. Our team of experts will evaluate your financial situation and the equity in your home to craft a consolidation plan that fits. Remember, your info is confidential and used only to help you – we know money matters are personal, and we handle your application with care and understanding.
Step 2: Get Approved & We Handle the Heavy Lifting
We assess your request quickly and look for ways to say yes. Our team combines smart automation with human expertise to verify details and approve viable deals. Within 24 hours (often sooner), you’ll get a clear offer showing exactly how much we can fund, all fees upfront, and when repayment is due. Our consultants will guide you through the offer, answer questions, and make sure it’s the right fit for your business. Signing is simple and electronic.
Step 3: One Easy Payment. Interest-Only for 12 Months
Once your debts are consolidated, you’ll start making one affordable monthly payment to Unum Credit Home Loan (instead of many payments to various creditors). For the first 12 months, this payment is interest-only, meaning you’re only paying the interest charges on your new consolidation loan – no principal yet. This is the special window that makes our program so helpful: your monthly payment during this period will likely be significantly lower than the sum of all the payments you were making before. This helps you get back on track financially without the strain of full repayments immediately. You’ll notice the difference in your budget right away – clients often report finally being able to save a little or cover other important expenses again.
After 12 Months.Transition to Full Repayments
The Unum Credit Home Loan program is meant to be a springboard, not a forever crutch. After you’ve enjoyed 12 months of interest-only payments and likely improved your credit profile by consistently paying on time, it’s time to start tackling the principal. At the 12-month mark, you’ll transition to a standard repayment plan, where your monthly payment will begin including principal (so you can pay down the balance). The good news is, by this point you should be in far better financial shape – your high-interest debts are gone, your cash flow is improved, and your credit score should be on the mend. You’ll have a couple of options at this stage:
Refinance elsewhere
You can take your now-cleaner financial profile to a traditional bank or lender and refinance your home loan with them. Since your credit may be much healthier and your debt-to-income ratio improved, you might qualify for a prime rate mortgage at a bank.
Beyond 12 Months. A Fresh Start
By eliminating the web of multiple debts and possibly increasing your credit score, Unum Credit Home Loan positions you for a much brighter financial future. You’ll have fewer creditors to deal with, likely lower total monthly outgoings, and no more collection calls harassing you. If you were in debt review, this process can give you an avenue to exit the debt review status by settling those accounts and obtaining clearance once the consolidated loan is in good standing. The ultimate goal is that you come out of this program not only with consolidated debt, but with renewed confidence and control over your money.
That’s it. In summary, apply, consolidate, enjoy 12 months relief, then finish paying off with improved finances. We take what seems complicated and make it simple. Our customers often tell us, “I wish I had known about this sooner.” – because it truly can be life-changing for a stressed-out homeowner.
Have questions? We’ve answered some common ones below in our FAQ, but feel free to reach out anytime. We’re here to help, not judge.