Consolidate Your Debt

Debt Consolidation Mortgages in Trenton, Quinte West & Belleville

There's more than one way to consolidate debt with your home, and the cheapest option depends on your current mortgage, your penalty, your credit and how much equity you have. As your broker, my sole job is to compare the options across our lenders and find you the lowest overall set of rates and terms. Our advice is free, even if we didn't arrange your original mortgage.

Your Options

• Refinance your mortgage: roll your debts into a new first mortgage, usually up to 80% of your home's value, at a rate far below credit cards.
• Consolidate at renewal: if your term ends soon, consolidating at renewal can avoid a prepayment penalty entirely.
• Second mortgage or home equity line of credit: keep your low-rate first mortgage in place and consolidate on top of it, without breaking your term.
• Alternative and private lenders: if your credit has taken a hit or your income is hard to document, we also have access to private lenders and our own in-house private funds, with a clear plan to move you back to a lower rate.
• Reverse mortgage (55+): pay off debt with no required monthly payments. Learn more about reverse mortgages.

Do the Math Before You Decide

A lower monthly payment is only part of the picture. We'll show you the prepayment penalty, legal and appraisal costs, and your total interest savings side by side, so you can see what consolidation really saves you. We'll also help you build a plan so the cards stay paid off, turning "bad debt" into a manageable, lower-rate mortgage.

Local Advice That Puts You First

We live, work and support causes right here in our community, and we've placed thousands of mortgages across the Quinte region. We know how local homes are valued, which lenders are flexible with rural properties and bruised credit, and how to present your situation so you get a fair answer. A big bank will offer you its own product; we'll show you the whole market.

Debt Consolidation Mortgage FAQ

How much can I borrow to consolidate debt with my mortgage?

With most lenders, a refinance can go up to 80% of your home's appraised value, minus your existing mortgage. Alternative and private lenders may go further in some situations. We'll calculate your available equity and show you exactly how much debt you can roll in.

Will I pay a penalty to consolidate debt mid-term?

Possibly. Breaking a mortgage before maturity usually triggers a prepayment penalty. We compare that penalty with your interest savings, and look at alternatives such as a second mortgage, a home equity line of credit, or waiting until renewal, so you choose the lowest-cost route.

Can I consolidate debt if my credit has been damaged?

Often, yes. Alternative lenders and private lenders focus more on your home equity than on your credit score. Consolidating can also help rebuild your credit by paying accounts in full and replacing multiple payments with one manageable payment.

What if my lender says it can't renegotiate my mortgage?

The first no isn't always the final answer. Depending on the lender and your circumstances, an exception may be possible, or a second mortgage or line of credit may get you most of the savings without breaking your first mortgage.

Is a reverse mortgage an option for debt consolidation?

For homeowners 55 and older, a reverse mortgage can pay off debts and replace those monthly payments with no required payments at all. It costs more over time than a regular mortgage, so we'll compare it with the other options first.

Call or text Craig at 613-394-5810 or email craig@simpligomortgages.com for a free, confidential review of your options.

All financing is subject to lender approval, property valuation and qualification. Prepayment penalties, fees and available equity vary by lender and situation.