Debt Consolidation Mortgage
Mortgage Agent based in London and Windsor, Ontario
For most homeowners, their mortgage is the single largest source of personal debt and we want to ensure that you have peace of mind throughout the mortgage process.
A Debt Consolidation Mortgage allows you to combine all of your high-interest debt including debt from credit cards, auto loans, and personal lines of credit into one low-rate mortgage.
By consolidating debt in a secured loan, backed by the equity in your property, you can access interest rates lower than even a personal line of credit would allow.
Debt consolidation is helpful to people who cannot make their full monthly payments on time. With this option, you only make one reduced payment per month.
The benefits of a Debt Consolidation Mortgage include:
- Lower your monthly payments. Consolidating debts into your mortgage allows you to lower your monthly obligation by extending your payback period.
- Lower your interest rate. Mortgage loans carry the lowest interest rates as they are backed by an asset, your home, and are therefore much less risky in the eyes of banks.
- Improve your credit score. By lowering your monthly payment and consolidating multiple payments into one, you are more likely to make every payment on time and in full. This will improve your credit score, giving you greater options with lenders in the future.
A Debt Consolidation Mortgage is a great way to get out of debt faster!