A debt consolidation loan is a single loan (generally from a financial institution) that allows you to repay your debts to several or all of your creditors at once. You are then left with only one outstanding loan — to the financial institution. In addition to streamlining your debts into a single payment, a debt consolidation loan may also offer you an interest rate that is lower than that charged by your creditors, reducing the money paid 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). We can arrange for a loan equal to the amount of your total outstanding debts that are currently due. In most cases, we will settle all the debts for you and, in return, you will enjoy narrowing your debt repayment down to 1 single payment per month.
This option may be suitable for debts such as those relating to credit cards, personal lines of credit, auto loans, or finance, bank and student loans. But not all debts can be combined into a consolidation loan — a mortgage cannot be included, for example.
In order to qualify for a consolidation loan, a consumer can have perfect, next to perfect, or less than perfect credit. Your credit score will help determine the type of mortgage terms you will qualify for, including the rate and the amount of a mortgage. To get your credit score now, you may visit TransUnion at https://www.creditprofile.transunion.ca/entry/silver.jsp?&cb=CBAN. Contact us and we can determine which Lender and mortgage product will be best suited for your needs and take a look at your credit together. Let's put the equity you have built up in your home to work for you today. By applying online with us now, you can find out how a consolidation loan will reduce your payments each month, and get you debt free.
In today's market many home owners have faced reduced income, and increased expenses. We will advise you on how to keep your home, and tailor a mortgage product to your financial capacity.