Calgary Licensed Mortgage Broker
A Debt Consolidation Mortgage is a mortgage used to pay off multiple debts. This can be an effective way to save money on interest and make monthly payments more manageable. Debt consolidation can also help improve your credit score by reducing the number of outstanding debts.
Are you short on cash every month?
Is the weight of your unsecured debts causing you stress?
A debt consolidation will lower your overall monthly payments and assist you in paying off your debt faster at lower interest. Clients have saved $2000/mth using a debt consolidation mortgage.
A small $15,000.00 credit card with 19.99% interest making the minimum monthly payments will take you about 115 years to pay off! With a debt consolidation we can lower your interest rate and amortize your payments so that you pay it off much faster and save on your interest cost.
A mortgage pre-approval is so important to ensure that you are buying within your purchasing ability. There is nothing worse than having your heart set on a home that ultimately you cannot qualify for the mortgage to buy. A critical part of the pre-approval is ensuring you have all of your documents ready, down payment in place, taxes filed, taxes paid, and income verification documents. Finally when it comes to the actual mortgage ensure you consider the terms of the mortgage and not just the rate. Different lenders have different terms and saving a little on rate could cost you way more in the long run due to a term in the mortgage you did not understand, realize or expect to get in the way of your future.