Life happens and so can debt. What you may not realize is just how expensive it can be to carry debt, especially when it comes to the high interest rates on credit cards.

If you have accumulated multiple points of debt from credit cards or loans (such as car loans, personal loans, etc.) and are looking for a way to simplify your payments – and help reduce them – rolling them into your mortgage could be the perfect solution.

Consolidating other forms of debt into your mortgage can help you pay them off over a longer period of time, at a much lower interest rate compared to credit cards. By freeing yourself from these high interest rates and gouging interest payments, you will not only have more money each month but have a better chance of taking back your financial control!

For example, if you have $30,000 of credit card debt, you are probably paying AT LEAST $600 per month – with $500 per month of that going directly to interest. If you let me help you to roll that debt into your home equity and monthly mortgage, your payment will drop to $125 per month, with interest being $70 per month. That is huge savings!  

Not only that, but it is also much easier to manage and pay a single monthly instalment versus half a dozen loans and bills.  

If you are looking for a way to simplify (or get out of) debt, please contact me today! I would be happy to take a look at your financial portfolio and current mortgage and help you come up with the best option to suit your needs.

Staci James

905-299-8492

ajames@dominonlending.ca