Are you looking to consolidate your debts here in Canada to ease your cash flow? You're in the right mortgage/credit card website! Here at Dominion Lending - an established Canadian Lending Company - we have a great Visa Credit Card that you can use to take equity out of your home property (so it's like a heloc/home equity line of credit) - and use that equity the same way you would use any regular Visa Credit Card!
So that means yes - you could get this Equity-Line Home Trust Visa/heloc to consolidate your debts into a first or second mortgage - in the form of a Visa Credit Card. That way you'll have one bigger loan to work at paying off rather than several, and you'll have one mortgage/credit card rate rather than several! This can just simplify your financial-life and take the pressure off a bit!
This Equity-Line Visa/heloc - created by our lender friends at Home Trust, and available right here at Dominion Lending - will work just like a regular Visa Credit Card when you get it: you can use it to pay bills, to shop offline and online, just like you would with normal/non-mortgage Visa Credit Cards! You will NOT be limited by this credit card (like you can be with debit credit cards, or prepaid/gift-card credit cards). Also, this Equity-Line Home Trust Visa will show up on your credit bureau - which is great news because that means it can help you establish and reestablish your credit!
The rates and credit-limit for this heloc/Equity-Line Visa Credit Card by Home Trust can vary - based on the amount of equity you'll be taking out of your home, your home's value, and your current credit score. Home Trust's mortgage rates/credit-card rates for this "Equity-Line Visa" can range from 5.99% up to 11.9% - and the credit-limit can be up to a max of $100,000 - all depending on how you qualify for for this mortgage-Visa.
It's very easy to start the application process for our Equity-Line Home Trust Visa here at Dominion Lending: simply fill out our online Mortgage/Equity-Line Home Trust Visa Application today!