Debt Consolidation Mortgages in Canada

For many homeowners, there may come a point when consolidating debt and simplifying their finances makes more sense. You undoubtedly have a vehicle payment, credit cards, retail cards, and maybe personal loans, just like the rest of us. 

The aggregate monthly cost of all of these obligations might make it tough to move ahead, as you’re only paying interest or “minimum balances” on the loans. This isn’t the best circumstance, and it might be harmful to your financial well-being. The good news is that there are debt consolidation mortgages available. 

Using the equity in your house to pay off all of your debts is a smart move. Refinancing, or combining all of your loans and adding them to your mortgage, provides various advantages. 

For starters, the overall interest rate and the amount you pay are cheaper. Credit card interest rates can range from ten percent to twenty-nine percent! This rate is compounded monthly rather than semi-annually, as is the case with a mortgage.

The monthly payment is perhaps the most significant benefit. You may take advantage of low monthly payments by consolidating your debts into your mortgage. This might offer you the breathing room you need to make a strategy and get serious about paying off your debt. 

You may save hundreds of dollars in interest alone each year by combining your debts. By avoiding missing any payments, you will keep your credit score in good shape and avoid late fees and penalties.

Debt Consolidation Mortgages For All Situations

Our mortgage experts can assist you in locating the best debt consolidation loan for your needs.

Unlike banks, we are not concerned about your existing income, debt load, or credit score. We can assist you in finding a better financial solution, whether you are receiving calls from collection agencies threatening legal action, considering a consumer proposal, or even filing for bankruptcy.

A debt consolidation mortgage allows you to use the equity in your house to pay off debts and improve your credit without having to touch the original mortgage. A second mortgage is what this is referred to as. Furthermore, the All Inclusive Mortgage Debt Reduction Program can lower the amount you owe to creditors by up to 50% without the need for a consumer proposal or bankruptcy.

Mortgages For Debt Consolidation Lending

We’ve been providing debt consolidation mortgages and other mortgage solutions to homeowners like you for over a decade to help you better your financial condition, cut interest rates, and get access to funds. 

With interest rates currently approaching historic lows, consolidating all of your debt is a no-brainer. 

To discover more about your debt consolidation alternatives, contact us now. Approvals and closings should be completed quickly. We’re excited to have you as a customer.

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