Credit cards at 20%+, a line of credit, a car loan, maybe a tax bill — when payments pile up, even a strong income feels stretched thin. If you own your home, the equity you’ve built can roll those high-interest balances into a single, lower-rate mortgage payment and put hundreds back in your pocket each month.
Your home has likely grown in value, and every mortgage payment you’ve made has built equity. Debt consolidation lets you tap that equity to pay off high-interest debts — then repay it all at your mortgage rate, which is typically a fraction of what credit cards and unsecured loans charge.
Instead of juggling five or six due dates, you make one predictable payment. Instead of paying 20–29% on a credit card, you pay your mortgage rate. The math is often dramatic.
Homeowners carrying high-interest credit card or line-of-credit balances
Families hit by an unexpected expense, medical cost, or income gap
Self-employed owners needing to clear a CRA tax balance
Anyone who wants to simplify multiple payments into one and rebuild cash flow
Imagine $60,000 spread across credit cards and a line of credit at an average 22% interest. The minimum payments alone can run well over $1,500 a month — and most of it never touches the principal. Folded into a refinance at a typical mortgage rate, that same balance can cost a few hundred dollars a month instead, freeing up cash flow immediately.
Replace your current mortgage with a new, larger one (up to 80% of your home’s value) and use the difference to clear your debts.
Flexible, revolving access to your equity — pay down and re-borrow as needed.
Keep your great first-mortgage rate untouched and add a separate loan against your equity — useful when breaking your current term isn’t worth it.
Through a refinance you can typically access up to 80% of your home’s appraised value, less your current mortgage balance.
Most clients see their credit improve over time, because high-interest balances are paid off and replaced with one manageable, on-time payment.
Often, yes. With enough home equity, we have lenders who focus on the equity and your repayment plan rather than the score alone.
