Debt Consolidation

WE HAVE A MORTGAGE SOLUTION FOR YOUR UNIQUE SITUATION

If you have sufficient equity in your home, many borrowers can benefit from a refinance by consolidating debt. We can help you decide if Debt Consolidation is right for you!

Benefits of Debt Consolidation:

  • The interest for all included debt will be the same.
  • You have only one loan to manage for all debts included.
  • Fixed interest rate for all debts included.

Debt Consolidation is not for everyone. If you’re having financial difficulties, consolidating your debt may not always be the answer.

Debt Consolidation may not be for you if:

  • You are unable to meet the repayments on the new loan.
  • There are additional fees and charges including penalties for early payment or early termination of loans.
  • The interest rate on your current debt is lower than the interest rate on the refinance.

Tips to help you make the right decisions when it comes to consolidating debts:

DO YOUR RESEARCH

Talk to a mortgage professional to review your options.

SIGN UP FOR A FIXED INTEREST LOAN

Variable interest rates change over the loan period. This can make it difficult to stay on top of your loan payments, therefore a loan with a fixed interest rate is the ideal option.

DO NOT INCUR ADDITIONAL DEBTS

Debt consolidation should be a means of paying off your existing debts and not as a way of making it easy for you to borrow more.

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