Living paycheque to paycheque? You’re not alone.

​

Many Canadians are carrying higher levels of personal debt than ever before. For some, the cost of servicing that debt, especially high-interest credit cards and unsecured loans, makes it difficult to get ahead. Each month becomes a cycle of interest payments with little progress toward reducing balances.

​

In certain situations, consolidating high-interest debt into your mortgage may provide relief and a clearer path forward.

​

​

Why Mortgage Debt Can Make Sense

​

Credit cards and unsecured lines of credit typically carry interest rates far higher than mortgage rates. By using home equity to pay off high-interest debt, you may be able to:

​

• Reduce your overall interest costs

• Lower your total monthly payments

• Simplify multiple debts into one manageable payment

• Improve monthly cash flow and long-term financial stability

​

Every situation is different, and refinancing isn’t always the right solution but with the right strategy, debt consolidation can be an effective tool for rebuilding financial health.

​

​

How the Process Works

​

We begin with a full review of your financial picture. This includes:

​

• Listing all current debts, balances, and monthly payments

• Reviewing your home’s current market value

• Creating refinancing scenarios that show potential mortgage amounts and monthly payments

​

In most cases, mainstream lenders allow refinancing up to 80% of your home’s market value. In some situations, alternative lenders may allow financing up to approximately 85%, depending on the overall profile.

​

​

Is Debt Consolidation Right for You?

​

If you’re considering refinancing to consolidate debt, understanding your options is the first step. We’ll present clear scenarios so you can decide whether this approach aligns with your financial goals.

​

To explore your refinancing options, complete our Online Application. Once submitted, we’ll review your information and outline potential solutions tailored to your situation.