How much can I save with debt consolidation?

Savings vary, but consolidating $50,000 in credit card debt (at 20% interest) into a mortgage (at 5%) could save you over $700/month and thousands in interest over the life of the loan.

Will this affect my credit score?

Paying off your high-interest debts can actually improve your credit score over time by reducing your credit utilization ratio and ensuring consistent payments.

Do I need equity in my home?

Yes, you need sufficient equity to consolidate your debts. You can refinance up to 80% of your home's current market value. We'll assess your equity position during consultation.

Is debt consolidation the same as refinancing?

Debt consolidation is a purpose of refinancing. When you refinance for debt consolidation, you increase your mortgage to pay off other debts. The process is the same as a standard refinance, but the goal is specifically to eliminate high-interest debt and simplify your payments.

Mortgage Service

Debt Consolidation

Combine your debts into one low monthly payment

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Overview

Debt Consolidation Mortgage Solutions in Ontario

If you're juggling multiple debts with high interest rates - credit cards, personal loans, car payments - a debt consolidation mortgage can simplify your finances and save you significant money. By rolling your debts into your mortgage at a much lower rate, you can reduce your total monthly payments and pay off debt faster.

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Benefits

How Debt Consolidation Through Your Mortgage Saves Money

Reduce your total monthly debt payments significantly
Replace high-interest debt (18-29% credit cards) with low mortgage rates
Simplify finances with one single monthly payment
Improve your cash flow immediately
Access up to 80% of your home equity
Flexible repayment options

If you are carrying high-interest credit card balances, car loans, or personal lines of credit, consolidating them into your mortgage can dramatically reduce your monthly payments and total interest costs. Credit cards in Canada charge 19% to 29% interest, while mortgage rates are significantly lower. By rolling these debts into your mortgage, you make one simple monthly payment at a fraction of the interest rate.

To qualify for debt consolidation through refinancing, you need sufficient equity in your home. You can refinance up to 80% of your property's appraised value. For example, if your home is worth $700,000 and your current mortgage is $400,000, you could potentially access up to $160,000 in equity to pay off high-interest debts.

We provide a detailed cost-benefit analysis before recommending debt consolidation. This includes calculating your mortgage penalty (if applicable), legal fees, and comparing your total interest savings over the life of the mortgage. In most cases, the savings far outweigh the costs. Our service is available across Brampton, Mississauga, Toronto, and all Ontario communities.

How It Works

4 Steps to Consolidate Your Debt Into Your Mortgage

We have streamlined the mortgage process to make it as smooth and stress-free as possible.

Debt Review

We review all your current debts, interest rates, and monthly payments.

Savings Calculation

We calculate your potential monthly savings and total interest savings.

Refinance Application

We apply to refinance your mortgage to include your outstanding debts.

Debt Freedom

Your debts are paid off at closing, and you enjoy one low monthly payment.

Areas We Serve

Debt Consolidation Mortgage Services Across the GTA

We provide debt consolidation services to clients across the Greater Toronto Area and all of Ontario. In-person and virtual consultations are available.

Find Your Nearest Office

Brampton

Toronto

Mississauga

Vaughan

Markham

Richmond Hill

Oakville

Burlington

Hamilton

Oshawa

Whitby