Will consolidating hurt my credit score?

Short-term, your score may dip 10–30 points from the new mortgage placement. Within 90 days the cleared revolving balances typically push your score higher than before.

What if I have collections or judgements?

Most need to be paid out at closing. Alternative lenders can include collection payouts in the new mortgage so you don't need cash on hand.

For: Cash-Strapped Homeowners

Debt Consolidation

"I need to increase my monthly cash flow and pay off credit card debt."

Rolling unsecured debt into your mortgage replaces 19–29% interest with single-digit mortgage rates. Most clients see immediate, meaningful improvement in monthly cash flow and total interest cost.

One predictable monthly payment
Replace 19–29% rates with mortgage rates
Typical cash-flow gain: $400–$1,500/mo
Bruised credit accepted

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Debt Consolidation FAQ

Common questions

Real answers from a licensed Ontario mortgage broker.

Up to 80% of your home's appraised value, less your existing first mortgage and reasonable closing costs. For most owner-occupied properties that's enough to clear all unsecured debt and still leave equity.

Debt Consolidation by City