Consolidating your debt, whether it's a credit card or an existing mortgage, can help you save money in the short and long term by paying a single, significantly lower interest rate. Mortgage brokers help provide professional advice to help you understand the difference between “good debt” and “bad debt”.
Many Canadians are taking advantage of refinancing some of their home's value to pay down credit card debt. Why pay high interest rates on your bank's credit card debt when you can add that debt to your mortgage and pay a single payment, much lower interest rate?
A well-planned mortgage can help you save money and increase cash flow.
When it comes to the amount of credit you are paying most people will find themselves somewhere in the 10%-20% range.
Consolidating these accounts into your mortgage allows you to reduce the rate by 8%-15% or more, putting all of those savings back into your own pocket. Consolidating debt allows you to pay less interest, pay more towards the principal, and get out of debt faster. Let us show you the cost savings available by refinancing your debts today.
The hard-earned equity you have made in your home can also be used to consolidate high-interest debt. That's now. But what about when you find yourself in a touch financial situation? You can also use your equity to buy investment products and other property that makes you money, long term.
Your equity money can be used to pay off your mortgage faster and improve your lifestyle. These are just a few of the benefits of working with a mortgage broker who has dealt with a wide range of life situations.
Highly recommend Angela for your next mortgage. I have used her services for all my mortgage needs over the years. She is always professional, efficient, well-organized and on top of the latest changes.