Payoff
Debt Consolidation Calculator
See what happens when you roll credit cards, car loans, or student debt into a refinanced mortgage, lower rates, one payment.
Current Mortgage
Debts to Consolidate
New Refinance Terms
Consolidation Analysis
Current Total Payment
$3,318
New Consolidated Payment
$2,591
Monthly Cash Flow
+$727
New Loan Balance
$410,000
Cash-Out Refinance
Get a Quote
A cash-out refinance can consolidate debt while potentially lowering your rate. Get real quotes today.
How the debt consolidation calculator works
This tool compares your current high-interest debts against rolling them into a single mortgage or HELOC. You enter each balance and rate, and it computes your blended interest rate today versus one lower secured rate, then shows the difference in monthly payment and interest paid over the same period.
Say you carry $30,000 in credit cards at 22 percent and a $15,000 auto loan at 8 percent, a blended rate near 17.3 percent costing about $7,800 in first-year interest. Move that $45,000 to a HELOC around 8.5 percent and first-year interest falls to roughly $3,825, saving close to $3,975 as an example.
In South Florida, where many owners hold strong equity after recent price gains, tapping a HELOC to clear card debt is common. Remember you are trading unsecured debt for debt tied to your home, so a missed payment now puts the property at risk. Compare total interest, not just the monthly figure.