Financing 500k loan consolidation

[Joshua Telles]

Hello Everyone,

I was talking to an investor in regards to financing and his suggestion was to get a 500k loan to put towards all current debt, but wasn't sure all the factors that may be implicated with going this route.

My current portfolio has 2 properties (1 LTR, 1 MTR = 370k), and current debts: HELOC at 54k and a vehicle at 40k.

The investor's theory behind his suggestion was to use the 500k loan to wipe all debt and only pay on the new loan, I'm not sure if this would be advantageous financially due to my current debts monthly payments set at: 

LTR = 1900

MTR = 1500

HELOC= 550

Vehicle = 850

Total = 4800 monthly 

At current loan rates for 500k, and a 800+ credit score be a lower monthly than the $4800? 

Thank you in advance for any information/guidance to this scenario