Debt Consolidation Mortgages

In today's economy, many Canadians find themselves trapped by high-interest credit card debt, often carrying balances at 19.99% or higher. A debt consolidation mortgage allows you to leverage the equity in your home to pay off these high-interest liabilities, replacing them with more manageable mortgage terms.

How It Works

We look at your current mortgage balance plus your outstanding debts (credit cards, line of credits, car loans). If you have at least 20% equity in your home, we can often refinance your property up to 80% of its appraised value. The "new" mortgage pays off the old one and provides the cash required to clear your other debts entirely.

The Math of Savings

Consider the difference between a $30,000 credit card balance at 21% interest versus rolling that into a mortgage financing plan at 5%. On the credit card, your minimum payment might be $900/month, with almost none of it going to the principal. By consolidating, that same $30,000 costs significantly less within your monthly mortgage payment. That is immediate monthly savings.