Homeowners with high-interest debt
If credit card and loan payments are overwhelming, consolidating them into a mortgage can save you money.
Managing multiple debts with high-interest rates can be overwhelming. A Debt Consolidation Mortgage allows homeowners to combine high-interest debts—such as credit cards, personal loans, and lines of credit—into a single mortgage payment with a lower interest rate.
At XLG Mortgage Group, we help you use your home equity to reduce financial stress, improve cash flow, and simplify repayments.
At XLG Mortgage Group, we help you leverage your home equity to reduce financial stress, improve cash flow, and simplify repayments.
A Debt Consolidation Mortgage enables homeowners to refinance their mortgage and use home equity to pay off high-interest debts. Instead of managing multiple payments with different interest rates and due dates, you’ll make one affordable monthly payment at a lower mortgage interest rate.
With this option, you can:
At XLG Mortgage Group, we work with multiple lenders to secure the best rates and terms for your debt consolidation needs.
Consolidating your debt into your mortgage offers a range of benefits, making it a smart choice for homeowners struggling with high-interest debt. Here are some advantages to consider:
Credit cards and personal loans carry much higher interest rates than mortgages. Consolidating debt under a mortgage significantly reduces the
Paying off high-interest credit cards reduces your credit utilization ratio, which can positively impact your credit score.
Instead of tracking multiple bills, enjoy one simple mortgage payment, reducing the risk of missed payments and late fees.
By lowering your monthly debt obligations, you free up funds for savings, investments, or other financial priorities.
A Debt Consolidation Mortgage works by leveraging your home’s equity to pay off your outstanding debts. Here’s how the process works:
We determine how much equity is available in your home. The more equity you have, the more debt you can consolidate.
We evaluate your outstanding credit card balances, personal loans, and other high-interest debts to determine which ones can be included in the mortgage.
We work with lenders offering competitive rates and flexible terms, ensuring you get the best possible deal.
Once your mortgage is approved, the funds are used to pay off your high-interest debts, leaving you with just one lower mortgage payment.
Homeowners with high-interest debt
If credit card and loan payments are overwhelming, consolidating them into a mortgage can save you money.
Those struggling with multiple payments
Managing several payments to different creditors can be stressful. A single mortgage payment makes budgeting easier.
Homeowners looking to improve cash flow
Reducing monthly debt payments can provide more financial flexibility.
Individuals with strong home equity
If you have built equity in your home, you can leverage it to consolidate debt and reduce interest costs.
Ready to take the next step toward securing your mortgage? Reach out to XLG Mortgage Group today for a consultation. Our experts are available to answer your questions, discuss your financial goals, and help you find the mortgage product that best suits your needs.
+1 905-206-0090
+ 1 833-932-0012
info@xlgmortgagegroup.com
5250 Solar Drive, Unit # 208,
Mississauga, Ontario, L4W 5M8
207-460 Hespeler Road,
Cambridge, ON, N1R 0E3
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