Debt Consolidation

You’re tired of being in debt. You want to be able to live a life without constantly worrying about your next payment. You are not alone. Many Canadians have the same fears. From job loss, and unexpected bills, to relationship breakdowns, debt is fact of life. You just need to manage it, and not let it manage you.

Hunt for Mortgages is here to help make the process easier for you. We offer competitive rates on mortgages and debt consolidation loans to homeowners. Our team of experts are available to answer any questions you have. Apply now and get on the path to financial freedom!

Refinance in Ontario for self-employed client 

The client saves over $1,300 monthly

DEAL NOTES

This client is a successful business owner who has run their business for over 30 years in the Niagara Falls community.

The business was significantly impacted by pandemic-related closures, which resulted in liens, high credit card utilization and a decreased Beacon score.

Refinancing their owner-occupied home will consolidate their 1st and 2nd mortgages, $80,000 in debt, generating cash out of $70,000 for closing costs and home renovations, and save more than $1,300 monthly.

Now, they’re back in business and increasing profitability each year. Using only one income, we combined the 2-year BFS income average to qualify the deal despite a 610 beacon.

Leveraging the stable income, tenure, and marketable property, we gave this client a fresh start and helped them move toward credit rehabilitation.

DEAL HIGHLIGHTS

• Niagara Falls, ON 
• Owner-Occupied
• 610 Beacon
• Approved at 70% LTV
• 30-year amortization
• 1-year term