Debt consolidation
Simplify debt, simplify your life
One manageable payment instead of many stressful ones
High-interest debt from credit cards, car loans, or lines of credit can be hard to manage. Debt consolidation lets you combine it into your mortgage at a lower interest rate, making payments simpler and more manageable.
Fewer payments, lower interest, and a clearer path forward
Take back control of your finances
Credit card debt
Eliminate high-interest balances with one smarter monthly payment.
Car & personal loans
Consolidate costly loans into your lower-rate mortgage instead.
Lines of credit
Simplify multiple balances into one straightforward payment structure.
Improved
cash flow
Free up monthly income by reducing what you owe each month.
Using your home equity to get ahead financially
How debt consolidation works
If you own a home with equity, you may be able to use it to pay off high-interest debt through refinancing or a second mortgage. This can lower your interest rate and reduce monthly payments.
Debt consolidation isn’t one-size-fits-all, so I’ll review your situation, explain the costs, and help you decide if it’s the right option for you.
Frequently asked questions
Clear answers to common questions about consolidating debt through your mortgage!
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Mortgage-based debt consolidation means using the equity in your home to pay off higher-interest debts like credit cards, car loans, or personal lines of credit. By rolling those balances into your mortgage, you replace multiple payments at high interest rates with a single payment at a much lower rate, which can significantly reduce your monthly financial burden.
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Yes. This type of debt consolidation works by borrowing against the equity you have built in your home, so homeownership is a requirement. The amount you can access depends on your home's current appraised value, your remaining mortgage balance, and your overall financial situation.
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There can be, depending on your situation. If you are refinancing your existing mortgage to access equity, there may be a prepayment penalty if you are breaking your term early, as well as legal and appraisal fees. I will walk you through all potential costs upfront so you have a full picture before making any decisions.
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The amount you can consolidate depends on how much equity you have available in your home. In Canada, lenders will typically allow you to borrow up to 80% of your home's appraised value, minus your remaining mortgage balance. I will help you calculate exactly how much you could access and whether it covers the debts you are looking to consolidate.
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In most cases, debt consolidation can actually improve your credit over time by reducing your overall debt load and helping you make consistent, on-time payments. There may be a short-term impact from a credit check during the application process, but the long-term benefits of paying down high-interest balances generally outweigh this.
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It can be a very effective solution when used thoughtfully. The key is making sure that once high-interest debts are paid off, they are not accumulated again, which would put you in a worse position over time. I always have an honest conversation with my clients about this so that consolidation becomes a genuine step forward, not just a short-term fix.
Ready to stop juggling debt and start moving forward?
Let's look at your options and find a plan that actually works for you.