You like me are probably looking at your T4 slip from last year or maybe even your most recent pay stub and asking yourself, where the heck does it all go?

Sure, you wish there were a few more zeros on there, but it’s the vanishing act that’s the killer.

Tax time is the worst, you can see how much money you made, but your credit card is still maxed and you don’t have much to show for all your hard earned income.

Are your credit cards floating near max?

Are you dipping into you overdraft?

Have you checked the interest rates on those cards lately? Add it up. You may be surprised how much interest you’re paying each month to carry that debt.

Imagine the 28% or higher interest that these credit card companies are charging, it’s highway robbery.

These types of debts are UNSECURED, hence the wickedly high rates.

Your house on the other hand is considered a very reliable security, so mortgages offer some of the best rates around. (Especially NOW)

You may already be seeing the benefit of taking advantage of these historically low rates to save a ton of interest charges. Do the math, compare current mortgage rates with the interest rate on your latest credit card statement.

Now imagine rolling all that debt into your mortgage. You consolidate your debt into ONE payment, save a TON of cash in interest and improve your cash flow.

And the kicker, you’re credit score will go up faster than ever before.

As an example, if you have a $250,000 mortgage at 5.5% plus high interest credit cards and other loans of say $30,000; your total monthly payment could be $2,426. Now if you took that $250,000 and added on an approximate $5,000 penalty to refinance your mortgage, you may be able to potentially roll it all into a new $285,000 mortgage at 3.19%.

AND take advantage of the extended 30 year amortization if insured or possibly longer.

This will reduce your overall monthly payment to $1227.00.

That’s a monthly savings of $1198.

Your monthly payment has been reduced, you’re saving a ton on interest charges, and all of your high interest rate credit card debts are gone. Imagine if you funneled some of that cash flow back into your mortgage or invested it!.

You may want to call me while rates are rock bottom low.

Remember, when there gone, there gone.

You will no longer be able to take advantage of these great rates.

Call me today at 604.273.2002

PS – This type of refinance can also be used to withdraw cash for investment purposes.

Please leave your comments below.

Mark Fidgett is a Vancouver mortgage broker and the driver behind

Your Vancouver Mortgage Broker For Life


P.S. Who’s the next person you know who wants to save thousands off their mortgage?
Be sure to give me a call so we can help them!