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Mortgage Refinance and Debt Consolidation

Financial debt can be a stressful experience; but finding a way out of debt doesn’t have to be difficult.

 

More Cash In Your Pocket Each Month

 


You can increase the amount of money you save each month by using the equity in your home to Refinance Your Mortgage and Consolidate your Debts.

This will lower your monthly payments and eliminate your high interest debts, such as credit cards, loan or unsecured lines of credit.

 

 Advantages of Debt Consolidation

  • Lower interest rate
  • Lower Monthly Payment
  • One easy payment each month for all your debt
  • Improved credit rating

Mortgage Alliance – Main Street Mortgages will help determine the best strategy for your situation. These strategies can include:

  • Refinance your existing mortgage
  • Arranging a 2nd mortgage and/or
  • Arranging a Home Equity Line of Credit

Mortgage Alliance – Main Street Mortgages can help you leverage the equity in their home to Refinance Your Mortgage and Consolidate Your Debt. This can Save You Money with a lower overall monthly payment.

Example of How Refinancing a Mortgage and Consolidating Debt Can Save Money

 

Here is an example of how Mortgage Alliance – Main Street Mortgages helped one family.  It shows the amount of money that they were able to save each month.

 
Property Value $250,000.00
Property Value $250,000.00
Mortgage Balance $150,000.00
Mortgage Balance $200,000.00
Interest Rate 5.99%
Interest Rate 3.29%
Term 5 Year 5 Year
Term 5 Year 5 Year
Monthly Payments  
Monthly Payments  
Car loan ($20,000.00) $425.00
Car loan ($20,000.00) $0.00
Credit Cards ($20,000.00) $600.00
Credit Cards ($20,000.00) $0.00
RRSP Loan ($10,000.00) $190.00
RRSP Loan ($10,000.00) $0.00
Mortgage $960.00
Mortgage $976.50
Total Payment $2,175.00
 Total Savings

 $1,198.50

* Illustration based on a 25-year amortization 


For your FREE, NO OBLIGATIONS consultation, contact a Mortgage Professional with Mortgage Alliance – Main Street Mortgages, 1-877-226-4810.

 

 
 
Disclaimer
Mortgage Alliance - Main Street Mortgages is an Independently Owned and Operated Franchise of The Mortgage Alliance Network. operating under FSCO licence number 11958. Mortgages offers and information comes from licensed mortgage agents of Mortgage Alliance – Main Street Mortgages 148 Main Street South Newmarket Ontario L3Y 3Z1. Mortgage rates and products subject to change without notice. Mortgage rate offer cannot be combined with other promotions. Discount mortgage rates are subject to approved credit and lenders discretion.
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