Debt isn’t the problem. The interest rate is.
If you’re carrying $40,000–$100,000+ in credit card debt, personal loans, or CRA arrears, you already know the math doesn’t work. At 21.99% interest, you’re barely treading water. A $60,000 balance costs over $1,100/month in minimum payments — and almost none of it goes toward the principal.
As a homeowner, you have an asset your bank won’t talk to you about. Your home equity unlocks rates as low as 6.99% — dramatically lower than any credit card or personal loan. The math changes completely.
Your home equity is working capital you’ve already built. Let’s put it to work for you — not against you.
Adjust the sliders below to estimate how much equity may be available to consolidate debt, access cash, or lower your monthly payments.
See how homeowners across Ontario, Alberta & Saskatchewan have used their home equity to eliminate debt, stop arrears, and lower their monthly payments.
$6,800
$71,900
$14,000
$92,700
$92,700
$102,500
$67,000
$29,000
$198,500
$198,500
$24,000
$28,000
$4,500
$56,500
$56,500
$64,000
$21,000
$217,000
$302,000
$302,000
$68,000
$19,000
$21,000
$108,000
$108,000
Certain details have been modified to protect client privacy while preserving the overall outcome.
Home equity consolidation works for virtually any type of consumer or unsecured debt. Here’s what homeowners most commonly consolidate through CreditReboot:
Home Equity Loan
Borrow a lump sum against the equity in your home. Ideal for debt consolidation, large expenses, or getting cash fast. Fixed rates from alternative lenders who focus on equity, not credit score.
HELOC with Bad Credit
A revolving line of credit secured by your home. Draw funds as you need them, pay interest only on what you use. Alternative lenders don’t follow traditional bank credit rules.
Second Mortgage
Borrow against your equity without touching your existing mortgage rate or terms. Fast approvals focused entirely on your equity position — not credit history.
Cash-Out Refinancing
Refinance your mortgage and pull out equity as cash — even with bad credit, a consumer proposal, or mortgage arrears. We find lenders who qualify you on property value, not your credit file.
Debt Consolidation
Roll high-interest credit cards, personal loans, and lines of credit into one low monthly payment secured by your home. Stop paying 19–29% interest and redirect that money toward rebuilding your financial foundation. Available even with damaged credit or past collections.
Alternative Mortgage
When the big banks turn you down, B lenders and private lenders offer real solutions based on your equity and property value — not a credit score. Private lenders move fast and approve based almost entirely on the equity in your home. CreditReboot works with both.
Both options can reduce what you pay monthly — but they work very differently and have very different long-term impacts on your finances.
Consumer Proposal
- Severe credit damage — stays on record 7 years
- Requires trustee involvement
- Process takes months
- Negotiate to pay less than you owe
- Option if no home equity available
Home Equity Consolidation
- No credit damage — actually helps rebuild credit
- Keep all your assets & property
- Approved and funded in days
- Pay off full balance at a lower rate
- Available even with bruised credit
“Parm was excellent — didn’t matter what our questions were, he always had time for us. Had a few tricky issues but everything was handled swiftly and professionally.”
“Parm was super knowledgeable and really helped us when we were in a pinch and needed a quick close. He made our stressful situation much more manageable. Would highly recommend!”
“I recently had the pleasure of working with Parm from CreditReboot, and I couldn’t be more satisfied with the experience. He worked tirelessly to find me a lender tailored to my needs.”
“Parm from CreditReboot is an absolute pleasure to work with. He specializes in home equity loans and second mortgages. Whenever I have a client who needs help, Parm is my first call.”
“No matter anyone’s predicament, especially in the current economic market, I highly recommend working with Parm and CreditReboot. They came through when no one else would.”
“CreditReboot, in particular Parm, is the most timely, honest, and professional broker I’ve ever had the pleasure of working with. I cannot recommend him highly enough.”
The Digital CreditReboot Process
No branch visits. No waiting in line. No unnecessary paperwork. Just a simple digital process.
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1Pre-ApprovalFill this form, speak to the broker, get your quote.
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2Application & ApprovalComplete the application, we shop the deal to 50+ lenders, choose your approval.
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3FundingSign the broker documents, legal documents & get the funds!
9%
Debt Consolidation Mortgage Rates (August 2026)
As of August 2026, a debt consolidation mortgage in Canada prices at 7.99%–11.99% through B lenders (second position or HELOC) and 9%–14% through private lenders — against the 19.99%–24.99% most credit cards charge. That spread is the whole case for consolidating: the same balances, secured by home equity, at a fraction of the interest.
| Option | Typical Rate (August 2026) |
|---|---|
| B-lender consolidation (second / HELOC) | 7.99%–11.99% |
| Private second mortgage consolidation | 9%–14% |
| Typical credit card (for comparison) | 19.99%–24.99% |
Your written quote itemises the rate and every fee before anything proceeds.
Consolidate Credit Card Debt Into One Payment
The fastest-growing file we see: homeowners who consolidate credit card debt by rolling every card into one equity-secured payment. Utilisation drops toward zero, the score starts recovering in 60–90 days, and the monthly outlay falls — often by hundreds. Debt consolidation loans in Canada that are unsecured cannot touch those numbers, because they price on your score; a homeowner consolidation prices on your equity.
Consolidating Debt at Mortgage Renewal
Mortgage renewal and debt consolidation belong in the same conversation. At renewal there is no break penalty, so high-interest balances can be folded into the new mortgage at the lowest available cost. If your renewal is close, we time the consolidation to it; if it is years away, a second-position consolidation bridges you there — then rolls in at renewal.
Debt Consolidation Loans in Alberta
A debt consolidation loan in Alberta works the same way, priced against the property. We are licensed in Alberta and consolidate for homeowners in Edmonton, Calgary, and beyond — including files carrying CRA debt alongside the cards.
Run your own numbers
- Debt Consolidation Calculator — see the monthly difference against your current credit card payments
Related reading
- Consolidating debt with home equity — how the math works
- Debt consolidation in Calgary — a worked second-mortgage example
- Debt consolidation in Toronto — what GTA homeowners are clearing
- Debt consolidation in Alberta — equity options province-wide
- Consumer proposal vs debt consolidation — which one costs a homeowner less
Debt Consolidation Mortgage — Frequently Asked Questions
Debt Consolidation by City
Each city page covers local home values, what consolidating actually costs there, and the questions we get asked most in that market.