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Top 8 Reasons To Get Your Mortgage With RateShop.ca
Best Mortgage Rates. Period.
We feature rock-bottom rates from several banks, credit unions, and lenders plus many exclusive low rates that aren’t available through other brokers or lenders directly.
Same Day File Review
Our service commitment is, we will never sit idle on a file. The day we have your application & documents, we start our review immediately to analyze all our lender offers and suggest the best one for you.
Largest Choice of Lenders
We offer the most comprehensive list of banks, credit unions, monoline lenders you’ll find in Canada. More choice, better rates, greater flexibility and dozens of purchase, refinance, renewal & home equity programs.
Easy Mortgage Approval
Our application searches from 700+ mortgage offers with various terms, rate types, and lending programs from 65+ mortgage lenders in Canada, that finds your best suited rate for your unique situation. Unleash the power of Artificial Intelligence to help you save on your mortgage!
Award-winning Service
We work relentlessly to improve every aspect of our service, from service to transparent lending solutions. We’re proud and humbled by our clients' and lenders' appreciation to vote us their preferred partner. Our mission is to provide the best mortgage offerings & services on the planet.
Customers Love Us
We always tell our clients, it's not just about the rate! Finding a solution that works for you, instead of costs you more in the future is what our mortgage planning is about. In two to three years into the mortgage term, this becomes very apparent. Customers have called us back telling us how our advice saved them money and educated them to manage finances better.
Mortgage Lenders Love Us
As a volume broker, our lender relations are important. That's what gets us great rates, and this is possible because we know the programs, we're fluent in underwriting and we are efficient with approvals. Who & What you know in the industry matters, we understand all bank programs and know where to find you flexibility and rate discounts.
Free Mortgage Rate Monitoring
Stay on top of mortgage savings, rate specials, wealth creation tips & investment opportunities. Breaking news affecting mortgage rates and real estate in Canada. We use our AI technology to compare your rate monthly with available lender offers and find the savings for you.
Best Mortgage Rates. Period.
We feature rock-bottom rates from several banks, credit unions, and lenders plus many exclusive low rates that aren’t available through other brokers or lenders directly.
Same Day File Review
Our service commitment is, we will never sit idle on a file. The day we have your application & documents, we start our review immediately to analyze all our lender offers and suggest the best one for you.
Largest Choice of Lenders
We offer the most comprehensive list of banks, credit unions, monoline lenders you’ll find in Canada. More choice, better rates, greater flexibility and dozens of purchase, refinance, renewal & home equity programs.
Easy Mortgage Approval
Our application searches from 700+ mortgage offers with various terms, rate types, and lending programs from 65+ mortgage lenders in Canada, that finds your best suited rate for your unique situation.
Award-winning Service
We work relentlessly to improve every aspect of our service, from service to transparent lending solutions. We’re proud and humbled by our clients' and lenders' appreciation to vote us their preferred partner.
Customers Love Us
We always tell our clients, it's not just about the rate! Finding a solution that works for you, instead of costing you more in the future is what our mortgage planning is about.
Mortgage Lenders Love Us
As a volume broker, our lender relations are important. That's what gets us great rates, and this is possible because we know the programs and are efficient with approvals.
Free Mortgage Rate Monitoring
Stay on top of mortgage savings, rate specials, wealth creation tips & investment opportunities. We use AI to compare your rate monthly with available lender offers and find the savings for you.
Canada's Top Independent Mortgage Brokerage
Compare Rates, Lenders and Your Savings
100% Digital Experience, Guaranteed lowest Rates
Easy Mortgage approvals accross Canada & US*
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Canada's Best
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4.04%
Lowest Purchase
3-YR Fixed
Our Mortgage Experts
Dylan James
Mortgage Agent Level 1
Abdoulaye Sow
Mortgage Agent Level 1
Michael Le Chi
Mortgage Agent Level 1
Heith Gharib
Mortgage Agent Level 1
Sara Fresco
Mortgage Agent level 1
Mortgage Learning Center
Using Home Equity to Consolidate Debt in 2026
Using Home Equity to Consolidate Debt in 2026
As interest rates stabilize and household debt remains high, many Canadians are turning to home equity as a smarter way to manage their finances. In 2026, using home equity to consolidate debt can reduce interest costs, simplify payments, and improve monthly cash flow—when done correctly.
Here’s what homeowners need to know before consolidating debt using their home equity in 2026.
What Is Home Equity Debt Consolidation?
Home equity debt consolidation involves borrowing against the value of your home to pay off higher-interest debts such as:
Credit cards
Personal loans
Lines of credit
Car loans
By replacing multiple debts with one lower-interest payment, homeowners can regain financial control.
Why Home Equity Is Attractive in 2026
Compared to unsecured debt, mortgage and HELOC rates remain significantly lower—even in 2026.
Key advantages include:
Lower interest rates
Simplified monthly payments
Improved cash flow
Potential credit score improvement
For many households, consolidation can save thousands in interest over time.
Ways to Use Home Equity to Consolidate Debt
1. Mortgage Refinance
Refinancing allows you to increase your mortgage amount and roll debts into one payment.
Best for:
Large debt balances
Long-term repayment
Lower interest costs
2. Home Equity Line of Credit (HELOC)
A HELOC offers flexible access to equity and interest-only payment options.
Best for:
Ongoing expenses
Flexible repayment
Borrowers with strong discipline
3. Second Mortgage
A second mortgage can consolidate debt without breaking your existing mortgage.
Best for:
Avoiding large prepayment penalties
Short-term consolidation strategies
Risks to Consider Before Consolidating
While consolidation can help, there are risks:
Turning unsecured debt into secured debt
Extending repayment periods
Potential foreclosure risk if payments aren’t made
Temptation to re-accumulate debt
A clear repayment plan is essential.
Who Should Consider Home Equity Consolidation?
This strategy may be right for homeowners who:
Have stable income
Carry high-interest debt
Have sufficient home equity
Are committed to better financial habits
It’s not ideal for those struggling with ongoing spending issues.
How Consolidation Affects Mortgage Qualification
Consolidating debt can:
Lower monthly obligations
Improve debt-service ratios
Strengthen future borrowing power
However, lenders will still assess credit, income, and overall risk.
Expert Tips for 2026
Compare refinance vs HELOC options
Watch prepayment penalties
Avoid maxing out available equity
Close paid-off credit accounts
Work with a mortgage professional
Proper structuring makes all the difference.
Final Thoughts
Using home equity to consolidate debt in 2026 can be a powerful financial reset—but it must be done strategically. When structured properly, it can lower interest, simplify payments, and improve long-term financial health.
Professional advice ensures you choose the right solution for your situation.
Mortgage Learning Center
First-Time Homebuyer Guide: Getting the Best Mortgage Rates in Canada
Buying your first home is an exciting milestone, but it can also feel overwhelming, especially when it comes to securing the best mortgage rates. With Canada’s diverse housing market and fluctuating m..
Canada's Mortgage Rates in 2025: Trends and Predictions
As 2025 begins, the Canadian mortgage market continues to draw attention, with homeowners, buyers, and investors eagerly anticipating the trends that will shape the housing landscape. Understanding mo...
How to Compare Mortgage Rates in Canada for the Best Deal
When it comes to buying a home in Canada, securing the best mortgage rate is critical to making your investment affordable and financially sustainable. Mortgage rates directly impact monthly payments .
Understanding Fixed vs. Variable Mortgage Rates in Canada
The decision to choose between fixed and variable mortgage rates is one of the most critical choices Canadian homebuyers face.
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RateShop Inc. is a Mortgage Brokerage offering lowest mortgage rates to Canadians. We are provincially licensed in the following provinces: Mortgage Brokerage Ontario FSRA #12733, British Columbia BCFSA #MB600776, Alberta RECA #00523056P, Saskatchewan FCAA #00511126, PEI #160622, New Brunswick FCNB #88426, Newfoundland/Labrador.
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