At Equity Rich, we know the challenges of handling numerous high-interest debts, as they cause financial exhaustion. Our debt consolidation mortgage solutions are designed to assist Greater Toronto Area homeowners by utilizing property equity for better financial control. Through our equity-based lending model, you can merge various debts into one manageable mortgage without needing to show income, pass credit checks, or meet age restrictions that traditional lenders enforce.
The debt consolidation mortgage process enables homeowners to merge various high-interest debts, such as credit cards and personal loans, with car payments into a single lower-interest mortgage secured by their property. You will benefit from a single payment plan with beneficial conditions when you combine multiple debts into one financial account. People with enough equity in their homes can use this method for effective debt consolidation.
The process of obtaining a mortgage for debt consolidation provides homeowners with better interest rates and financial stability through refinancing either their first mortgage or securing a second mortgage. At Equity Rich, we extend additional benefits to our customers. Property value serves as our sole basis for approving debt consolidation mortgages, which makes us an option for borrowers whom banks refuse to serve.
A secondary dwelling unit built correctly will substantially increase the worth of your home. The creation of this new living space allows you to generate additional money that can help with mortgage expenses or care for family members.
You can obtain better financial control and reduce stress by using home equity to decrease your monthly payment obligations, thus generating extra money.
Credit cards, together with personal loans, normally come with interest rates higher than 20%. Using a debt consolidation mortgage provides access to better interest rates, which enables substantial savings throughout the years.
Your credit score will start improving because of one simple monthly payment, along with a decreased debt amount as your outstanding balances diminish.
Equity Rich operates differently than traditional lenders, as we do not make approval decisions based on income or credit score minimums. Our loan decisions rely on property equity instead of evaluating your financial history.
Our first step involves determining the available equity amount in your home. We provide loans that reach between 70-75% of your property value in both primary and secondary positions.
The process begins with debt documentation that includes full debt details, along with amounts and interest rates. Our team develops personalized debt consolidation with mortgage plans that use your available home equity to cover the maximum amount of your debt.
The loan approval process grants you access to a single mortgage sum that is calculated from your property value. Your high-interest debt obligations will receive complete payment through the loan proceeds.
After approval, you will only need to pay a single mortgage payment at reduced rates instead of handling multiple accounts.
Our flexible debt consolidation mortgage solutions help you gain financial flexibility while allowing you to preserve your homeownership opportunities.
Our non-traditional lending approach differentiates us from standard lenders. The equity-based lending approach of our company approves applications based on property values rather than checking personal income, age, or credit scores. Our team at Equity Rich specializes in providing first and second mortgage solutions to clients who failed to obtain loans from traditional lenders through our private and alternative lending services.
We provide loan-to-value (LTV) options at 75%, which surpasses what many banks and private lenders offer in Ontario. We serve the Greater Toronto Area specifically because our local position allows us to deliver personalized service that larger financial institutions cannot duplicate. The expert team at Equity Rich is ready to assist you through debt consolidation to mortgage programs, as well as home loan refinancing and financial option guidance.
Contact us today for a free consultation and manage your high-interest debt by taking action.
Our team will help you find a smart equity-based solution to consolidate your debt and rebuild your financial stability.
EquityRich.ca is a Canadian entity, operating as a referral institution. Mortgage Agents and Brokers represent Everything Mortgages (FSRA #12755)
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