|Address||ON L0S 1E2, Canada
Ontario home values are soaring. According to the Canadian Real Estate Association, the average residential sale price in Oakville is $1,089,000, up 33.1% from the same time last year.
If your debt is piling up – credit cards, store cards, car and loan payments– then the interest that you’re paying could be standing in the way of your financial security. If interest rates go up as expected, it could get a lot worse.
The good news is that homeowners have a great option: debt consolidation. It’s a simple concept: you roll up all the extra debt you have outside your mortgage, and you consolidate it into a new or existing mortgage. If you’ve built up some equity in your home, then this consolidation is the simplest way to power through your debt.
The key advantage is the low interest rate: you’re trading your higher-interest loans for one easy low interest payment. So you can see huge savings in interest charges and be out of debt faster than you thought possible. The second big advantage is cash flow. If you’re struggling with your monthly debt load, then a consolidation can offer big relief.
Dig out your credit card and loan statements. Write down the balances for each, note the interest rates you’re paying, and jot down the monthly payment amount. Once completed, I can get you a realistic appraisal of your options and savings.
Please feel free to contact me with any financing questions you may have.
Jason Vokey, BBE, PFP
*O.A.C. Rates subject to change without notice.
Mortgage Intelligence Head Office: 600 - 5770 Hurontario Street, Mississauga ON L5R 3G5, Broker Licence: 10801, T: 888.468.4734