About Us
Committed to making your mortgage approval process stress free and efficient for over 25 years, Sunlite Mortgage is one of Canada’s leading mortgage brokerages.
Between 2019 and 2025, Canadian mortgage holders experienced a rapid rise in interest rates. If you’re carrying high-interest debt, a smart debt consolidation and refinancing plan could help you reduce monthly payments, regain control of your finances, and improve your credit profile. How to Increase Your Credit Score by Using the Right Debt Consolidation Strategy.
Anyone with a mortgage renewing today will see a significant increase in their mortgage payment. If they also carry unsecured debt, they may benefit from including those balances in a mortgage refinance to reduce their monthly payments and improve their long-term financial health.
Darren and Ashley are both professionals in the IT field, in their late thirties, and parents to a young child. They’ve owned their Ontario home for five years and, like many Canadians, found themselves facing rising interest rates and increasing monthly payments — all while planning for their next financial move.
One of our clients, whom we originally placed with TD five years ago, recently received their mortgage renewal notice. TD offered a rate of 4.79% — a sharp increase from their original 2.39% rate. Like nearly 60% of Canadians, they were about to sign and return the renewal notice when they received one of our newsletters offering to shop their renewal.
This family had accumulated over $120,000 in debt across credit cards, car loans, personal loans, property and income tax arrears, with interest rates ranging from 9.99% to 22%, and a combined monthly payment of $3,970. They needed a debt consolidation strategy.
Their goals were clear:
Initially, they believed a second mortgage would be necessary, as they didn’t think they would qualify for the full amount they needed. However, after a detailed review of their income and documents, their Sunlite Mortgage agent discovered they did qualify — not only for the full refinance but also for a HELOC (Home Equity Line of Credit) that could serve as the down payment on their next property.
By asking the right questions, their agent uncovered a more strategic solution that consolidated their high-interest debts, reduced monthly payments, and positioned them for investment success. Had they accepted the renewal, they would have needed a separate loan or private financing for the down payment — likely at higher interest rates and with added fees — making their investment property more expensive to acquire.
Instead of blindly renewing at 4.79%, they contacted Sunlite Mortgage for advice. Thanks to our high-volume relationship with TD, we were able to secure a rate of 4.39% for them and structure a strategic refinance.
Rather than choosing a product off the shelf, their Sunlite Mortgage agent designed a tailored debt consolidation strategy — combining a refinance and HELOC — that aligned with the client’s long-term investment goals and provided immediate financial relief.
Due to the volume of business Sunlite Mortgage conducts with TD, our clients often receive access to preferred mortgage rates that aren’t typically advertised. These rate improvements can make a significant difference, especially when paired with a complete financial strategy.
We helped them:
Most importantly, by completing a debt consolidation strategy and eliminating $3,970 in monthly loan and credit card payments, they were able to reduce monthly payments and redirect that cash flow into a savings plan, helping build:
Try Our Mortgage Calculators →
Compare Our Mortgage Cashback Offer →
| Option | Pros | Cons |
|---|---|---|
| Renew with TD at 4.79% | Simple, no requalification | No debt relief, continued high monthly payments |
| Personal loan to pay off debt | Consolidates unsecured debt | High interest (9–13%), minimal credit improvement |
| Second mortgage or private loan | Quick access to equity | Higher rates (7–12%), fees, and cash flow risk |
| Refinance with Sunlite via TD | Lower rate, complete consolidation | Lower legal fees due to timing at renewal and no prepayment penalty |
The family planned to purchase an investment property within the year. A traditional 5-year fixed-rate mortgage wouldn’t offer the flexibility they needed, so we helped them secure a TD Home Equity FlexLine (HELOC).
A HELOC (Home Equity Line of Credit) offers:
Not all mortgage lenders offer HELOCs. Working with a broker who understands the benefits of flexible financing helped this client align their mortgage with their long-term investment goals.
When mortgage rates rise and unsecured debt becomes unmanageable, it can feel overwhelming. But that stress can also signal an opportunity — if you have the proper guidance.
In this case, the family’s Sunlite Mortgage agent asked the right questions, taking time to understand their financial goals beyond the renewal letter. By digging deeper, they discovered a debt consolidation strategy that avoided a costly second mortgage, consolidated their debt, and unlocked equity through a refinance and a HELOC — all while preserving their relationship with their preferred lender.
Had they signed the bank’s renewal, they would’ve lost the chance to consolidate debt at a lower rate, missed out on qualifying for a HELOC, and faced higher borrowing costs for their investment property. Instead, a smart refinance reduced their monthly obligations and positioned them to grow — with lower risk and more flexibility.
At Sunlite Mortgage, we specialize in helping clients across Canada turn rising mortgage payments and unsecured debt into an opportunity for financial renewal. Through smart debt consolidation, personalized refinance strategies, and access to HELOCs, we help clients reduce monthly payments, rebuild credit, and create pathways to long-term financial growth.
Our mortgage advisors will walk you through your refinance and offer a debt consolidation strategy based on your needs — no pressure, no fees, just honest guidance.
