Roll high-interest debt into your mortgage. Save thousands a month.
If you own a home with equity and you're carrying credit card balances at 20%+, lines of credit at prime + 5%, or a car loan at 9%, a debt consolidation refinance is one of the most powerful financial moves available. We've helped Toronto homeowners cut $1,000–$3,000 off their monthly outflow by rolling unsecured debt into a much lower mortgage rate.
Why clients choose Tripoint for debt consolidation
Cash-flow relief
Most clients save $800–$2,400 per month immediately. That's real money back in your budget — without selling, downsizing, or filing.
Lower interest cost
20%+ credit card debt rolled into a 4–5% mortgage. Even spread over 25 years, the lifetime savings are usually significant.
One payment, one date
Stop juggling six minimums, multiple due dates, and overlimit fees. One mortgage payment replaces them all.
Credit score recovery
Paying off revolving debt almost always improves your credit utilization ratio — and your score climbs back over the next 6–12 months.
How a debt consolidation file moves at Tripoint
Debt inventory
We list every debt: balance, rate, minimum, lender. Plus your mortgage balance, value, and existing payments.
Consolidation modelling
We show you total monthly outflow today vs. consolidated. Plus lifetime interest cost — both honestly.
Refinance application
Same as a regular refinance: pre-approval, document collection, lender shop, conditional approval.
Payouts arranged
We coordinate payout statements for every debt being consolidated. Your lawyer pays them off directly at close.
Behaviour plan
Honest conversation: consolidation only works if the cards stay paid off. We've seen it work and we've seen it fail.
Common questions
How much can I consolidate?
You can refinance up to 80% of your home's appraised value. Subtract your current mortgage balance and that's how much you can take out for debt payoff. Example: $1M home, $500K mortgage = up to $300K available for consolidation.
Will I qualify if I have a lot of debt?
Possibly — and the consolidation often improves qualification. Once high-interest minimums are cleared, your debt service ratios drop dramatically. Lenders look at the after-consolidation picture, not the today picture.
What if I have bad credit?
Bank consolidations typically need a 650+ Beacon. Below that, we have B-lender and private lender options — higher rates, but still typically far below the credit card rates being consolidated. The math still works.
What's the catch?
Two catches. (1) You're trading unsecured debt for secured — if you can't pay, your home is at risk. (2) If the cards refill, you've made things worse, not better. We won't recommend consolidation unless we believe the behaviour problem is solved.
More ways Tripoint can help
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