AKAL Mortgages

Debt Consolidation

Consolidate all your debts into one

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    Min $ 300,000

    Min $ 25,000

    Debt Consolidation

    Debt Consolidation in Oakville

    Consult us for Debt consolidation in Oakvile and find out the reality of your debt.

    Is it really draining you? Will you be able to pay it back without bringing a financial constraint in your family? How long before you are proven bankrupt? Have you got the right rates? Have you got the right lender? Our debt consolidation service in Oakvile will allow you to get access to multiple lenders and current market rates which will help you to borrow at lower rates and get rid of your high rated debts. It works on this simple policy that borrowing on strong collaterals, i.e. against a home, allow you to get lower rates compared to weak collaterals or no collateral debts, such as credit cards and other financed borrowed.
    All your monthly payments will be rolled into a single payment, with a lower rate, or with a lower tenure so as to get rid of your debt more quickly and eventually pay less towards interest. Debt Consolidation does not erase your deb.
    At the end of our service, you would start paying lower amounts to one or very few low interest lenders. This Debt Consolidation service in Oakville, would help anyone who is caught up in high Cost Debt.

    Break your existing mortgage contract early

    You can consider breaking your mortgage early if you want to obtain a lower interest rate or access equity from your home. In this case, you can do away with your existing mortgage and take on a brand new one with any lender. AKAL Mortgages Inc. can get you offers with up to 95% LTV.

    Add a home equity line of credit

    A home equity line of credit gives you access to the equity in your home at your own discretion. You are responsible for interest-only payments each month on the outstanding balance. You can access a home equity line of credit through your existing lender and a small subset of other lenders.

    Blend and extend your existing mortgage

    Your current mortgage granter might offer you a ‘blended rate’; essentially, a ‘blend’ of your current mortgage rate plus any additional money you borrow at current market rates. Blended rates are almost always higher than the most competitive mortgage rates on the market, so make sure you compare the blended rate against the savings if you break your mortgage.

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    Frequently Asked Questions

    In order to qualify to consolidate your debt, you need to ensure that you have income from a job, as you need to be able to repay the loan. When qualifying for a debt consolidation loan, your total debt, available credit, payment history, and credit score will be under scrutiny. A bank many turn you down if there are issues with any of these qualifying factors. Thanks goodness for alternatives offered by AKAL Mortgages.
    Lower your monthly payments and one monthly payment at a lowered interest rate, instead of multiple, are two advantages of a debt consolidation loan. Find out if you qualify by speaking to one of our agents. If you don’t qualify, then also learn more about the other debt relief options we have available to you.
    Use our TotalLiveChat feature below to get answers to your most frequently asked questions. Let our mortgage brokers help you get your debt consolidated so that you can get back on track again with your finances. You can book a free consultation here on our website, or call us at (416) 621-1300