One payment.
One low rate.
Roll high-interest credit cards, lines of credit, car loans, and other debts into your mortgage at one low rate — and free up hundreds in monthly cash flow.
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- No fees, ever
- Licensed Alberta brokers
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A specialist will review your numbers and email your estimate within 5–10 minutes.
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Tell us a bit more
This helps us understand where you're at so we can match you with the right options.
What's your down payment situation?
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We never pull your credit for this estimate. Your information is never shared or sold. For more information, please refer to our Privacy Policy.
When are you looking to buy?
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We never pull your credit for this estimate. Your information is never shared or sold. For more information, please refer to our Privacy Policy.
Your Income & Debts
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We never pull your credit for this estimate. Your information is never shared or sold. For more information, please refer to our Privacy Policy.
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The Skip the Down Payment program — and any mortgage with less than 20% down — requires solid credit history. Here's what good credit looks like and how to build it.
If you don't have any credit history yet, start with secured Visas from Scotia Bank and Home Trust — they're easier to approve for and a great first step. You can track your score for free at www.equifax.ca.
Down payment ranges and what credit you'll need
- 0–4% down: excellent credit, score above 680
- 5–9% down: score of 620+, no late payments or collections in the last 2 years
- 10–19% down: score of 580+, no recent late payments or collections
- 20%+ down: multiple lenders available depending on your interest rate tolerance
Tips to bump up your credit score
- If you've missed payments, try to open or maintain three credit accounts with perfect repayment going forward. (Student loans don't count.)
- Re-establishing payment history typically takes:
- ~12 months for one missed payment
- 2–3 years for 60- or 90-day late payments
- 3+ years for written-off debts (excluding minor collections like cell phone bills)
- Consumer proposals and orderly payment of debt are treated like a bankruptcy for mortgage purposes — wait times are significantly longer.
- Keep credit utilization low. Utilization is the ratio of balance to total credit limit. 30% or under is ideal.
- If you plan to purchase a home within 24 months, do not finance a vehicle purchase — the high utilization of that debt will reduce your score and your mortgage approval chances.
Why closing cards can hurt you
Say you have these accounts:
| Account | Limit | Balance |
|---|---|---|
| Credit Card A | $15,000 | $0 |
| Credit Card B | $10,000 | $0 |
| Credit Card C | $5,000 | $4,000 |
| Loan (orig. $20,000) | $20,000 | $17,000 |
Total utilization: $21,000 balance ÷ $50,000 total limit = 42% — that's healthy.
Now close Cards A and B (because you don't use them). New utilization: $21,000 ÷ $25,000 = 84% — that's bad. Your credit score could drop 50 points overnight.
The math is hard to argue with
If you're carrying credit card balances at 21%, store cards at 28%, or personal loans at 12-15%, you're hemorrhaging interest. The minimum payments mostly go to interest, and the principal barely moves.
Rolling those debts into your mortgage at 5% or less can cut your total monthly debt payment in half — sometimes more. The lower interest means you're actually paying down debt faster, even though the monthly payment is smaller. It's one of the most powerful financial moves available to a homeowner.
Right fit checklist
-
$10,000+ in revolving debt. Below this, the cost-benefit may not justify the refinance fees. Above it, the math usually wins by a wide margin.
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Equity headroom. You need at least 20% equity remaining after the consolidation, since refinances cap at 80% LTV.
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Disciplined go-forward plan. Consolidating works only if you don't run the credit cards back up. We'll talk through habits and automatic-pay setups during the application.
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Stable income. You need to qualify for the new larger mortgage on the federal stress test. We'll confirm fit before any commitment.
Three steps to a quote
List your debts
We tally your credit cards, lines of credit, car loan, and any other consumer debt. We'll show you a side-by-side comparison.
New mortgage setup
We refinance your home up to 80% of value, pulling out enough cash to pay off all the debts. The lender pays creditors directly at closing.
Single payment, lower interest
Your new mortgage payment replaces all your old debt payments. You'll typically free up several hundred dollars per month immediately.
Before vs After consolidation
Lower total monthly payment
Most consolidations free up $300-$1,500 of monthly cash flow on day one. That money can rebuild emergency savings or accelerate principal payoff.
Massive interest savings
Replacing 21% credit cards with a 5% mortgage means roughly 75% less interest paid. Over a 5-year term, that's tens of thousands of dollars.
Credit score improvement
Credit utilization is one of the biggest drivers of credit score. Paying revolving debt to zero typically lifts a score by 50-100 points within a few months.
Mental simplicity
One payment date, one statement, one creditor. The day-to-day stress of juggling 8 minimum payments goes away immediately.