Mortgage Consolidation
Mortgage Consolidation
A Mortgage Consolidation is a form of refinance which involves combining several mortgages or loans into a single mortgage. If you have sufficient equity in your home and you are carrying a first and a second (or even a third) mortgage, a Mortgage Consolidation could offer you the opportunity to save thousands!
If you have been in a tough financial situation in the past which prompted you to get a private mortgage or an emergency loan at a higher interest rate (while keeping your original first mortgage), there is no need to live with the higher interest loans forever. Our highly experienced mortgage brokers will assist you by assessing your unique financial situation and will offer you the best mortgage solution. If a mortgage consolidation is not the best option for you at the time, our brokers will offer you a personalized strategy to get you from point A to point B in the shortest amount of time.
How does a Mortgage Consolidation work?
Our team at 911 Mortgage Brokers – The Mortgage Centre will analyze your current mortgages and any other loans, and amalgamate them into one single mortgage with features that allow you to benefit from a lower interest rate, a lower monthly payment and more favourable terms for you in the long term. It’s all about the numbers! Even when there might be a penalty involved from ‘breaking’ one of the mortgages, it might be more advantageous to take the option of a mortgage consolidation if that would put you in a better financial position in the long term.
How do I know if I qualify for a Mortgage Consolidation?
Here at 911 Mortgage Brokers – The Mortgage Centre, we have worked with thousands of borrowers with all different kinds of financial situations (employed/self-employed, low income/high income, employed/retired, good credit/bad credit, millennials/baby boomers, and everything in between ) which has enabled us to become very familiar with all mortgage scenarios available. Whether you have a first mortgage and a private mortgage, or a first mortgage, a second mortgage, and a personal loan, or a first mortgage, a private mortgage and revolving credit cards, we will carefully assess your situation and provide you with a Mortgage Solution that works for YOU.
