How Ontarians Can Save with Mortgage Debt Consolidation

Written By David Simmonds

Debt consolidation is one of the most effective ways for Ontario homeowners to regain financial control. By using your home equity, you can combine multiple high-interest debts into one lower monthly payment.

Can I Use My Mortgage to Pay Off Credit Card Debt?

Yes. A debt consolidation mortgage allows you to roll debts like credit cards, personal loans, or lines of credit into your mortgage at a lower rate.

How Much Can I Save?

Many Ontarians save hundreds of dollars per month by reducing high-interest debt into a single mortgage payment.

Will Debt Consolidation Hurt My Credit Score?

In the short term, refinancing may cause a small dip. Long term, it usually improves your credit by lowering balances and reducing missed payments.

Common Concerns from Ontarians

  • Penalties for breaking an existing mortgage

  • Reborrowing risk if spending habits aren’t addressed

  • Equity requirements, usually 20%+ to qualify

Take the first step today. Learn more about our Debt Consolidation Services.

David Simmonds
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