Refinancing and Debt Consolidation

Unfortunately, many homeowners still assume that getting a second mortgage is your only choice. With rates starting around 10% and as high 20% for a 2nd mortgage, this is not always the best solution. Today, you can top up your existing mortgage to incorporate those debts and remove the debt load without having to take out a second mortgage. Why would you choose that expensive avenue over refinancing when today's rates remain at all time lows.

How Much Can You Borrow?

When you refinance your mortgage, you can borrow up to 90% of the loan-to-value in your home. At The Mortgage Advisors we will guide you through an easy process to get you on the road to a debt free lifestyle!

How we do it?

We simply replace your existing mortgage and increase it to cover the debt's you would like to pay off. With today's rates at all time lows, you will actually save money over your mortgage term. Here is just one real life example of how we are able to save you money:

Comparison

As this example shows, we were able to refinance our clients existing mortgage before the term was up and get them the money they needed to pay off all debts and lower their monthly mortgage payment by $87.73. By consolidating their mortgage and creditors, they saved a total of $637.73 per month and have been able to put that extra money into an investment account for their retirement.

The best way to determine if debt consolidation works for you is to speak with one of our mortgage brokers/agents or by filling out our on-line Mortgage Application.

Let us do the legwork for you!

 


CMHC IMBA CAAMP Genworth Financial