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Home Equity Debt Consolidation Loans
USE YOUR HOME EQUITY TO INVEST IN YOUR FUTURE
Do you have equity built up in your home? Why not use it to pay off those high interest loans? As mortgage brokers, we can help reduce your monthly obligations and interest costs while increasing the day to day cash flow you have.
Home Equity Debt Consolidation allows you to increase your mortgage and pay off your debt at the same time. Paying off your debt will become more manageable with payments that are significantly lower, which will potentially prevent you from making late payments, save you from bankruptcy or even structured settlements, all of which can hinder borrowing potential in the future!
Am I Eligible for a Debt Consolidation Mortgage?
There are a few things you have to consider when looking at getting a debt consolidation mortgage in Alberta, such as the payout penalty on your current mortgage and whether or not it still makes sense for you. Home Equity Debt Consolidation is an option for you if you find yourself in one of the following scenarios:
- You are making only the minimum payments on your credit cards and are struggling to pay it off.
- You have large personal loans such as a vehicle or RRSP loan that it taking out a chunk of your monthly income cheque.
- You have student loans that you have to make higher payments on that what you are used to.
- You have a large income tax bill coming up that you need to cover.