2 Hours

Debt Consolidation

Financial Freedom

Debt consolidation can be a strategic financial move for clients looking to secure a mortgage or refinance their existing home loan. By consolidating multiple debts into a single, more manageable payment, individuals may improve their debt-to-income ratio, a key factor in mortgage eligibility and interest rate determination. This financial strategy not only simplifies the client's financial situation but also positions them more favorably for a mortgage application. Additionally, if the debt consolidation results in a lower overall interest rate, it can lead to potential cost savings for the borrower.

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What You May Need
  • Letter of employment
  • 2 recent pay stubs
  • Most recent 2 years T4
  • Most recent year Notice of Assessment
  • Confirmation of your savings via 3 months bank statements
  • Mortgage statement & Property tax statement for all owned properties ¬†
  • Statements for any debts that you would like paid out/consolidated