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The Benefits of Debt Consolidation

Debt Consolidation is a tactic where old debt is rolled into new debt under a personal loan, credit card, or HELOC. This pays off multiple smaller loans and consolidates everything under one loan. This can be a beneficial move to obtain lower interest rates and monthly payment on one singular loan compared to multiple others. Debt consolidation is a great way to bundle debt and make monthly payment more manageable.

At Cashin Mortgages, we specialize in debt consolidation through mortgage refinance. You can lower your total monthly payments by unlocking up to 80% of your home’s value with help from trusted mortgage lenders and insurers. Our clients save an average of 70% on their monthly payments. We’ll use your mortgage equity to pay off your bills sooner and at a lower rate. With your bills consolidated, your interest and payments will dramatically reduce.

  • Secured Lines of Credit Programs for up to 65% of your home value

  • Equity Based Second Mortgages for up to 85% of your home value

 

  • Reduce your mortgage rate and payment; eliminate consumer debt

  • Take advantage of remarkably low interest rates to simply your finances

  • Get a free no-obligation consultation with Cashin Mortgages

 

 

 

 

 

 

 

 

 

Over-extended credit card and consumer debt is the number one problem Canadians face today. Mark Carney, Bank of Canada Governor, has publicly acknowledged this. Cashin Mortgages understands the seriousness of this problem. Credit card companies want you to ignore the issue. A new mortgage program with restructured home equity can shrink your credit card debt and consumer loans to less than 2.15% interest. Imagine shrinking your monthly payments by up to 70%.

Debt Consolidation Benefits

What are the types of Debt Consolidation?

There are two main types of debt consolidation, secured and unsecured loans:

  • Unsecured loans are not backed by assets but by the borrower’s credit, financial stability and income. The interest rates usually tend to be higher with lower qualifying amounts.
  • Secured loans are backed by assets or collateral, real estate, vehicles, or other physical assets are commonly used in secured loans. Usually secured loans have higher borrowing limits, lower interest rates, over a longer period of time.

What is the best way to Consolidate Debt?

There are some risks that do come along with debt consolidation, some being:

  • Temporary credit score damage
  • Good interest rates and timelines are not guaranteed
  • Extra costs and fees
  • Possibility of losing collateral
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Debt consolidation is the combining of several debts into a single loan that has a more favourable term, payment, interest rate or loan structure. Many credit cards, consumer loans and other forms of unsecured debts carry interest rates ranging from 20% to 45%. Unpaid balances at these high interest rates can mean high monthly payments and many years before these debts are paid off. If you own your home, a viable and cost saving option could be a home equity loan from Cashin Mortgages. If you have multiple debts with high interest rates and don’t see how you will be able to pay them off…consolidating your debts into a single loan with one payment with a lower interest may be the answer you are looking for.

Debt consolidation through Cashin Mortgages involves a strategic approach to help you get control of your finances. By taking out a new loan, you can settle your existing debts, streamlining multiple payments into one manageable installment. Our expert team at Cashin Mortgages tailors the loan to your unique needs, often offering more favoyrable interest rates and a structured repayment plan. With Cashin Mortgages, you’ll simplify your financial landscape, making it easier to focus on your path to financial freedom.

Ready to break free from debt?

Simplify Your Finances with Debt Consolidation

Debt consolidation provides a financial breath of fresh air by combining several debts into one manageable payment. This method can help you organize your finances if you’re managing multiple loans, credit cards, or outstanding balances. It may also help you pay off your debts more quickly overall. You can get a debt consolidation mortgage by utilizing the equity in your house, which will consolidate your bills and give you a clearer route to financial freedom. Our customized solutions give you the peace of mind that comes with a well-thought-out strategy to reach your financial objectives in addition to helping you recover control over your finances. You may concentrate on reestablishing your financial foundation and moving toward a more promising, debt-free future with a debt consolidation mortgage. An important turning point in your home ownership journey is when your mortgage is renewed. This is a time to review your financial plan and negotiate the best conditions for your long-term stability. Our devoted team is here to help you through the renewal process as the term of your current mortgage nears its end. 

Our aim is to make sure that your mortgage complies with your current needs and goals, and we recognize that the financial landscape might change. In order to provide you the peace of mind that comes from knowing that you’re making decisions regarding the future of your mortgage that are well-informed, we offer a variety of reasonable rates and flexible options. 

Mortgage Renewal

Our Mortgage Renewal choices are flexible, allowing you to take advantage of reduced interest rates, change your payment schedule, or explore new conditions. Our mortgage renewal solutions are made to give you financial flexibility and assurance for the years to come, whether you’re looking to change your payment schedule, investigate new conditions, or benefit from lower interest rates.

 

We are here to help!

If you are considering a home equity mortgage or a home equity loan to consolidate debts, please give us a call at 416-655-CASH (2274)  so we can explain the process and answer any questions you may have or APPLY NOW. 

Remember, at Cashin Mortgages, homeowners get approved the fastest! 

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