Select the Home Equity Assumptions link for information about these discounts, important loan disclosures and additional loan assumptions.
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For example, the CIBC Home Power Mortgage allows you to borrow additional money on your mortgage so you can consolidate your debts into one simple payment.
That way you can easily budget with a structured payment plan and an assured pay-off date.
Using several financial products, your bank may be able to offer more attractive lending terms than your existing mortgage loan and home equity line of credit, or HELOC, provide.
Refinancing options enable you to combine several bills into a single loan product.
Check with a Credit Counsellor to make sure that you choose the right option.However, if you're a homeowner, you have additional options to help you manage your debt, including a debt consolidation mortgage and home equity loan or line of credit.As a homeowner, one way to start managing some of your higher-interest debt is to refinance your existing mortgage with a debt consolidation mortgage.Second mortgages are aimed at those who want to revise their current mortgage rate and terms.High interest debt on credit cards, auto loans, or other consumer loans can be difficult to pay off and may create a barrier to your financial goals.Plus if you already own a home and want to lower your current mortgage rate, what steps do you take?