Reduce Your Debt Stress
Stress, due to high-interest rates on credit cards, auto loans, or other consumer loans can be debilitating. They are difficult to pay off. However if you are a homeowner, you have an additional option to help you manage your debt. A First or Second Mortgage using your home Equity is often the best way to obtain a much lower interest rate on all your debts. AS MUCH AS 10% LOWER IN SOME CASES. YOU COULD SAVE 100’s, EVEN $1000’s per month.
Why pay higher interest rates to many institutions, simplify your finances, save money and start realizing your financial goals with a Debt Consolidation Loan at Alberta Home Loans Inc.. Our mortgage professionals are able to ease your financial stress.
What is a Consolidation Loan?
A Mortgage Debt Consolidation Loan is a single loan that allows you to repay all your debts to your creditors. You are then left with only one outstanding mortgage loan. A Mortgage Debt Consolidation will offer you an interest rate that is lower than that charged by your creditors; saving you a lot of money in interest charges. This option can be especially attractive if you have outstanding debts at a relatively high rate of interest (for example, those charged on some retail store cards or credit cards.i.e 28%).
Use Your Equity To Help
If you have a number of debts and built enough equity in your home you may be eligible to consolidate your debt with your mortgage. There are many reasons this is a good solution. This option allows you to simplify your finances by only having one monthly payment rather than many and also pay off higher interest debts so that you are left with one loan at a lower interest rate. Mortgage interest rates are much lower than other interest rates and your mortgage can be amortized (paid) over 25 years which also means one lower payment.
This option may be suitable for debts such as Credit Cards, Auto Loans, Bank Loans, Finance Companies, Lines of Credit and Personal Loans.
You must be a homeowner with equity in your home. In addition, to qualify for a Mortgage Consolidation Loan, a consumer usually needs to have an acceptable credit rating and sufficient income to demonstrate that they will be able to pay the loan as agreed.