A Mortgage Broker can assist you to grasp the difference between "good debt" and "bad debt" by offering professional guidance.
Why Should I Consolidate My Debt?
Consolidating your debt, whether it's a credit card or an existing mortgage, can help you save money in the short and long term by paying a single, significantly lower interest rate. By paying off credit cards or loans, you can manage your cash flow easier and use additional money for savings or paying down your mortgage faster.
I’d Like To Lower My Credit Card Payments
With the rising cost of living, many Canadians are finding relief by leveraging their home equity to consolidate high-interest debt.
Why continue paying steep interest rates on credit card balances when you can refinance and combine that debt into your mortgage? By consolidating, you can replace multiple high-interest payments with a single, lower-interest mortgage payment, freeing up your monthly cash flow.
A thoughtfully designed mortgage plan not only helps you manage debt but can also save you money in the long run, providing greater financial flexibility and peace of mind.
Did you know that homeowners can withdraw up to 80% of the current appraised value of their home?
You can also use the equity you've built up in your house to consolidate high-interest debt.
That's all there is to it. But what happens if you find yourself in a tight financial spot?
You can also use your equity to purchase long-term investment products and other real estate.
You can use your equity funds to pay off your mortgage quicker and improve your lifestyle. These are some of the advantages you get when you work with a mortgage broker who has experience negotiating all kinds of life circumstances.
