Debt Consolidation Mortgage

Consolidate High Interest Credit Cards & Loans

Use your home equityWhat Is Home Equity? Home equity is money available in a home, and calculated as property value minus mortgage balance(s), including line of credits and liens. For example if a property is valued at $500,000 and the home owner(s) have a total mortgage balance of $300,000, then the home equity available is $200,000. What Is A Home Equity Loan? A home equity loan is a mortgage loan that is approved based on home equity. Traditionally, for home equity loans, income and credit are not considered for qualifying as the qualification is based on the equity in the home. Home equity lenders will,... More to pay off high interest debt, with a low rate mortgage

Debt Management

Make one payment to your mortgage, instead of multiple creditors

Credit Repair

Reduce your unsecured debt, and start building your credit

Own A Home? Get Approved

What Is A Debt Consolidation Mortgage?

How Does A Debt Consolidation Mortgage Work?

A debt consolidation mortgage is taking all credit card, line of credit, and other small loans or debts and combining them into one easy to manage, and pay mortgage. With a debt consolidation mortgage being secured on your property, we consolidate debt and get paid off faster with a lower interest rate, in comparison to your unsecured debt, which are usually much higher interest rates.

When doing a debt consolidation, our expert mortgage brokers will assess your debts in detail, to calculate what makes most sense, to consolidate debts

Reasons To Get A Debt Consolidation Mortgage

Why Home Owners Consolidate Debt Using Their Home Equity

stressed client debt consolidation ✔ Easier To Manage Debt

Make only one payment towards all debts and mortgage. Consolidate debts today instead of managing a mortgage paymentA mortgage payment is the payment amount, usually comprised of principal and interest payments, agreed upon as per mortgage approval documents, which a borrower makes to the lender as repayment for the mortgage. A mortgage payment is calculated based on the interest rate, compounded annually or monthly, as well as the amortization period. Interest rate of a mortgage and amortization period, will determine the amount of interest that is applied to the interest portion, and the amount of principal payment that is applied to the principal portion of the mortgage payment. A mortgage payment ... More along with multiple monthly bill payments to different creditors

✔ Save Money & Improve Monthly Cashflow

Use a low rate debt consolidation mortgage, to pay off high interest loans and other debts. Save money on interest payments and pay off your principle balance faster

✔ Repair & Improve Credit Score

By consolidating unsecured debts into a mortgage, your credit score will begin to repair and improve, as you will no longer be carrying high balances on unsecured debts reporting to your credit bureau.

Debt Consolidation Mortgage Features

Flexible Payment Options & Terms For Debt Consolidation Mortgages

No Payment Plan

Special lender program, for zero monthly payments for debt consolidation mortgage.

Interest Only Payment

Make minimum monthly payments of the interest portion only

One Payment Only

Easy to manage, stress free financing. Pay only one payment monthly

Flexible Terms

Short termA mortgage term is the time period which the mortgage agreement is in effect. Mortgage terms can range from 6 months and up to 10 years. The mortgage term is set at the time of the approval of the mortgage. The mortgage term shouldn't be confused with the amortization period of the mortgage, as the mortgage term is usually 5 years whereas the amortization period can be 25 year to 35 years. At the time of the mortgage approval, a borrower should determine how long of a mortgage term they would like to take, as there is usually a penalty for repaying a mortgage by refinancing or selling their... More and long term mortgage plans, to meet your financial goals

Debt Consolidation Mortgage Comparison

Compare a typically before and after debt consolidation, scenario

Debt Consolidation Mortgage Comparison

 Current SituationDebt Consolidation
Savings per month$1,250/month
Home value$350,000$350,000
First mortgage interest rate3%3%
First Mortgage Payment$1,075$1,075
First Mortgage Balance$250,000$250,000
Second Mortgage$250
Second mortgage requested50000
$25,000 High Interest Credit Card Payment$600Paid
$10,000 Unsecured Line of Credit Debt$250Paid
$5000 Loan Payment$150Paid
$10,000 Other$500Paid
Total$2,575/month$1,325/month

Reason For A Debt Consolidation Mortgage

Why Some Home Owners Take A Debt Consolidation Mortgage
Debt Consolidation Calculator

How Much Money Does Your Property Qualify To Borrow?

Get A Free Debt Consolidation Quote & Become Debt Free Faster

INSTANT APPROVALS

Approvals Are Based On Home Equity Only

FAST FUNDING

Close At Your Lawyer's Office In Just 1 Day

LOW RATES

We Shop Our Lender Network For The Best Offers

FLEXIBLE Re-PAYMENT

Payment-Free Options For One Year

My credit cards debt was getting out of control, and very hard to manage. Mortgage Associates Ontario assessed my situation, and arranged an equity based second mortgage and I consolidated my bills with two days. I couldn't have done it without their help and recommend them to anyone needing to consolidate debts.

Heather RobertsonRichmond Hill, Ontario

Get Approved Over The Phone

Speak With A Professional Mortgage Broker & Get Approved Over The Phone

Call 1-866-930-1660

How Much Do You Qualify For?

Calculate Your Home Equity, Interest Rate, and Monthly Payments Below FREE, with No Obligations!
  • How Much Does Your Property Qualify For?

    Home Equity Lenders DO NOT REQUIRE Income or Credit Qualifications. Approved On Equity Only!

    Home Equity loan calculator, calculate second mortgage paymentsFor a Second Mortgage or Home Equity Loan, the only thing needed to qualify is equity in your home. Lenders will allow an equity take out of up to 90% of your property value!

  • Reason To Take Out A Home Equity Loan

    • Debt Consolidation
    • Home Renovations
    • Mortgage Arrears
    • Pay Off Consumer Proposal
    • Pay Off Bankruptcy
    • Fast Cash From Home Equity
    • Stop Bank Power of Sale
    • Stop Foreclosure
    • Property Tax Arrears
    • Personal Debts
    • Vacation
    • Pay for Education
  • How Long Does The Process Take?

    What is a Home Equity Calculator & How Does it Work?

     

    Our Second Mortgage Calculator is a free and easy-to-use online mortgage calculator used to calculate how much equity there is in your home, which banks and lenders will allow you to refinance as a second mortgage or home equity loan.

    There is no credit check or income verification required. The Home Equity Loan Calculator will calculate the maximum home equity loan or second mortgage you can take from your property, based on the equity remaining in your property, taking into consideration any existing first mortgage, second mortgage, or home equity line of credit.

    1. Use The Second Mortgage Calculator To Get Your Instant Approval
    2. Sign Your Mortgage Commitment Documents
    3. Close With Your Lawyer In Just 48 Hours!