Regain control of your finances using the home you own.
Unum Credit Home Loan is a home-equity-based debt consolidation solution designed to help homeowners simplify their debt and breathe easier.
Unum Credit Home Loan vs. Other Debt Solutions
You might be wondering how Unum Credit Home Loan compares to other options out there. That’s a smart thing to consider. Here’s an honest look at how our home-equity consolidation stacks up against alternatives you may be considering:
Unum Credit Home Loan vs. a Personal Loan (or Credit Card Balance Transfers):
Traditional debt consolidation loans from a bank (or taking out one big personal loan to pay off others) is one way people try to tackle debt. However, personal loans are unsecured, which means banks charge higher interest to compensate for risk – often in the 20%–30% range in SA. If your credit score is low or your debt is high, you might not even qualify for a large enough loan. And even if you do, you’ve basically just moved debt around, and you still have a hefty monthly payment to juggle. Credit card balance transfers can offer temporary relief with a low promo rate, but usually only for a limited time and amount, and fees apply. In contrast, Unum Credit Home Loan gives you a secured loan at home-loan interest rates (±20–30% typically), which are substantially lower. This means less interest piling up and a more affordable payment. Plus, we’re able to approve folks that banks might reject – using your home equity gives us security, so we can extend help to those with poor credit, which a bank personal loan wouldn’t touch. Another big difference: our 12-month interest-only period versus a personal loan that requires full principal & interest from day one. That feature can make all the difference in giving you immediate budget relief. So, while a personal loan might consolidate debt, it often doesn’t really save you much money monthly and can be hard to get. Unum Credit Home Loan is easier to qualify for if you’re a homeowner, offers far lower rates, and eases you in gently. It’s a more sustainable, long-term solution rather than a quick patch.
Unum Credit Home Loan vs. Traditional Bond Refinancing
Another route is to approach your bank (or bond originator) to refinance your home loan – essentially increase your bond to pay off debts. If you have a good credit record and sufficient equity, this can work, since it also leverages home equity. However, there are a few challenges: Banks will require you to qualify afresh for a larger bond, meaning strict credit checks, affordability assessments, and you usually need a decent credit score. If you’re already behind on payments or under debt review, the bank is unlikely to approve a refinance. Also, refinancing is a lengthy process with lawyer fees, valuation fees, and paperwork – it can take several weeks or months to complete. Unum Credit Home Loan, on the other hand, is designed for speed and flexibility. We specialize in this niche of consolidating debt for those who may not meet the banks’ criteria. We streamline the process to get you approved quickly and skip a lot of the red tape. Importantly, we give you that 12 month interest-only period which banks almost never do for a normal homeowner refinance (banks want full payments immediately). That means even if you could refinance through a bank, your new bond installment might be high, whereas Unum keeps it low initially to help you recover. Additionally, with Unum you’re working with a team that understands debt predicaments – we won’t judge, and we build in support (like negotiations with creditors and advice along the way) – things you won’t get from a traditional bank refinance. One thing to note: a refinance will have similar end result (a single home loan), but Unum Credit Home Loan is accessible to those who can’t refinance conventionally, and offers a gentler on-ramp (lower payments first). It’s essentially a specialized form of refinancing tailored for distressed debt situations. If you could easily refinance through your bank at a great rate, that’s wonderful – but if you’re in the majority who can’t (due to credit issues or bank policies), Unum is here for you.
Unum Credit Home Loan vs. “Staying in Debt” (Doing Nothing)
What if you decide not to consolidate at all? Many people try to just chip away at multiple debts on their own, or only pay the minimum payments on credit cards, hoping things will improve later. Unfortunately, “doing nothing” or only paying minimums often leads to a debt treadmill that’s hard to escape. High-interest debts grow over time, and making only minimum payments means you’re mostly paying interest and barely touching the principal – keeping you in debt for years. The stress of juggling numerous bills can be overwhelming, and missing even one payment can snowball into penalty fees and further interest hikes. Without intervention, some end up needing formal debt review or, worse, facing legal action from creditors. In contrast, Unum Credit Home Loan gives you a proactive way out. Instead of years of status quo (or hoping for a miracle), you take control now: you consolidate everything into one plan, significantly cut down your interest costs, and have a clear timeline to debt freedom. Think of it like ripping the band-aid off and addressing the issue head-on, versus letting the wound fester. Yes, using your home equity is a serious decision, but so is letting debt linger and grow. By staying in debt, you’re likely paying far more in interest and fees over time than you would with a consolidation. Unum Credit Home Loan offers an organized, supported, and faster route to eliminating that debt for good, whereas doing nothing just extends the pain. We often ask clients: How will things look in 12 months if you don’t change course? With Unum, in 12 months you could be much better off; without it, you might be in the same spot or worse. Action beats inaction, especially when your financial future is at stake.