1st & 2nd Mortgages Debts Consolidation Residential & Commercial
Debt Consolidation With today’s low Mortgage rates and rising property values, many Canadians are choosing to refinance their existing mortgages and use the equity in their homes pay off credit cards and loans Now is a great time to consolidate all of the high interest bearing loans and credit cards and dramatically decrease your monthly payments.
Before Refinancing
After Refinancing
Existing Mortgage
New Mortgage
Property Value
$200,000
$100,000
$121,000
Interest Rate
7.5%
5.34%
Old Monthly Payments
New Monthly Payments
Credit Cards ($1,200)
$380
Credit Cards ($0)
$0
other debts ($9,000)
$270
no other debts ($0)
Mortgage
$731
$727
Total Payments
$1,361
Total Savings
$634
This example shows that we are able to refinance their existing mortgage and consolidate loan and credit card debt into their mortgage , and actually lower the mortgage payment..In order to take advantage of this program you must be a home owner and have at least 10% equity or more in your home.
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Call: 416-835-4836 mortgage@mortgageproduction.ca