One view of your current debt obligations
A comparison of monthly relief and total cost
A repayment strategy beyond the refinance
Bring your debts into focus
List every balance, interest rate, minimum payment, and remaining term. Lorika reviews the whole picture rather than assuming a lower monthly payment means a better outcome.
Explore the borrowing options
A refinance, home equity loan, or line of credit may combine eligible balances. Availability depends on your equity, income, credit, and the property. Alternative financing may involve higher rates and fees.
Protect your longer-term finances
Moving unsecured debt into a mortgage puts your home behind that borrowing. Spreading repayment over more years can increase interest even at a lower rate. A plan to avoid rebuilding the original balances is essential.
Your questions, answered.
Will consolidation always save money?
No. Compare interest over the full repayment period as well as legal fees, penalties, and other charges. Lower payments alone do not prove savings.
What happens to the debt I consolidate?
The new borrowing repays selected balances. Those debts become secured against your home if included in your mortgage or other property-secured financing.