You can bundle one or more consumer loans with your home loan through effective loan consolidation.
Refinancing your mortgage or consumer loans is a common strategy, especially now with historically low interest rates. Learn why combining a real estate loan and consumer loan makes sense, and how the process works.
Loan consolidation merges all your outstanding loans into one, creating a single, manageable monthly payment. This improves budget visibility and control. There are two main approaches:
This option appeals to borrowers struggling with payments, those rebalancing their finances, or anyone funding a new project without overextending. It also often secures lower interest rates, particularly beneficial for high-rate personal or revolving loans.
Only property owners—whether main residence, secondary home, or investment property—can access loan consolidation. Banks require a mortgage or lien on the property as security for home loans.
You'll need existing consumer loans to consolidate, such as personal loans, car loans, home improvement loans, revolving credit, or overdrafts.
Start with a free online loan consolidation simulation. This no-obligation tool provides a feasibility assessment and projects your new monthly payments.
Review personalized offers by comparing their APRs, which include interest, insurance, and fees. Consult a broker or advisor for the best deal.
Beyond lowering payments, consolidation lets you extend repayment terms, renegotiate rates, or finance new projects seamlessly.
