Edmonton · Calgary · Vancouver — We Say Yes When Banks Say No
Debt Consolidation in Toronto
Toronto homeowners are consolidating credit cards, car loans, and high-interest debt into their mortgage — saving thousands per year. Even if the bank turned you down, we say yes.
Use your Toronto home equity to consolidate debt. No credit check to start.
40+ GTA lendersNo credit check to startConsumer proposals welcomeSelf-employed programsKeep your first mortgage rate
How Debt Consolidation Works for Toronto Homeowners
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Consolidate High-Interest Debt
Roll credit cards, car loans, and store credit into your mortgage at a far lower rate. Average Toronto homeowner saves $19,000 per year by consolidating into a refinance or second mortgage.
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One Payment Instead of Many
Simplify your finances with a single monthly payment that replaces four, five, or six different creditors. Your mortgage payment becomes your only bill to track — no more missed due dates.
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Approval Even With Bad Credit
Banks look at your credit score. We look at your home equity. If you've been turned down elsewhere due to a consumer proposal, bankruptcy discharge, or poor credit — we have lenders who still say yes.
Toronto's real estate market offers exceptional equity opportunities for homeowners. With typical GTA home values ranging from $700,000 to $1.5 million, many Toronto homeowners hold $200,000–$600,000 in usable equity — even after their first mortgage is accounted for.
That equity can be leveraged through a refinance or second mortgage to pay off high-interest consumer debt at rates typically 8–15 percentage points lower than credit cards or car loans. A $50,000 credit card balance at 24% APR replaced by a $50,000 second mortgage at 9% APR saves approximately $7,500 per year in interest alone.
Common debt scenarios in Toronto that we help with: separation and divorce requiring debt split among Scarborough, North York, or Downtown clients, self-employed income fluctuations common in the GTA gig economy, medical expenses not covered by OHIP, and accumulated credit card debt from everyday living expenses during high-inflation periods in Canada's most expensive city.
Frequently Asked Questions
Yes. Toronto lenders look primarily at your home equity rather than your credit score. If you've been turned down elsewhere due to poor credit, a consumer proposal, or bankruptcy discharge, you may still qualify for a debt consolidation mortgage using your GTA home equity. Titus Financial works with 40+ lenders including private lenders who specialize in non-prime borrowers.
Toronto homeowners who consolidate typically save $18,000–$28,000 per year in interest charges. This comes from replacing high-interest credit cards (often 19–24% APR), car loans (7–12%), and store credit (25%+) with a mortgage or second mortgage rate (typically 7–12%). The exact savings depend on your total debt balance, current interest rates, and the amount of equity available in your GTA home.
It depends on the structure you choose. A refinance replaces your existing mortgage with a new, larger one that includes your consolidated debt — your old lender is paid out and you start fresh with a new rate and term. A second mortgage adds a second loan behind your existing first mortgage without disturbing it. Both options allow you to consolidate debt; the right choice depends on your current rate, remaining term, and equity position.
Yes — in many cases. If you have been discharged from a consumer proposal or bankruptcy and have equity in your Toronto home, we have lenders who can approve a debt consolidation mortgage for you. The key factor is the amount of equity available relative to your existing mortgage balance, not your credit history. Speak with a Titus Financial broker for a tailored assessment.
Most debt consolidation applications through Titus Financial are pre-approved within 24–72 hours. The full process — from application to funding — typically takes 5–14 business days depending on whether you pursue a refinance or second mortgage and whether there are existing mortgages to pay out. We prioritize speed because we know accumulating debt gets more expensive every month you wait.