Loan Consolidation with a new home loans

Home Loans, Mortgage, Apply for Home Loans, Debt Relief Solutions Australia, Bad Credit Debt Consolidation Loans, Debt Consolidation Refinance Loans, Mortgages, Home Loans, Debt Consolidation Loans Australia - Honey Loans Australia

Home >Consolidation

First Home Owner Grant

Which Home Loan?

Why Invest In Property

Investment Advantages

Capital Growth & Income

Negative Gearing

Positive Gearing

Property Market

Borrowing With bad Credit

Loans Blog
Glossary
Our Partners
Home Loans News

Privacy Policy
Disclaimer
Finance Directory
About Honey Loans

Enter email for news & offers

Honey Loans' Accreditations

FBAA COSL

Twitter

Loan Consolidation with a new home loan

In order to be able to consolidate other debts into your home loan, you must have sufficient equity for the home for it to act as a security to both your mortgage and you other debts.

Therefore, it you have $20,000 in unsecured debts and you are buying a new home with a minimal deposit – you are NOT able to consolidate other debts into your home loan. There is just no equity for you to do so.

It does not matter if you have a strong income position, consolidation into a mortgage is only possible if you hold equity in the security property.

If you have an existing home which is worth $400,000 for example and a mortgage of $250,000. You should be able to consolidate additional debts of $20,000 into the mortgage, because the property offers sufficient equity for you to do so. For some reason many people struggle with that concept.

top of the page