Debt Consolidation Calculator

It can reduce monthly payments when higher-cost debts are paid off with a new mortgage, but it can also extend repayment, increase total interest, add closing costs, and secure the consolidated debt with your home. Compare the APR, term, costs, and total repayment—not just the monthly payment.

The calculator adds the mortgage and debt balances you enter, weights each current rate by its balance, includes the debts you select in a live state-specific cash-out refinance estimate, and compares the current and estimated monthly payments. Results are estimates, not a commitment to lend.

Cash-out proceeds can generally be used to pay credit cards and other consumer debts, subject to equity, loan-program, underwriting, and state requirements. This calculator lets you include or exclude each entered debt to compare different payoff combinations.

Credit effects depend on the borrower and the application and repayment process. Comparing estimates is different from applying; a formal application may involve a credit inquiry, and paying off or closing accounts can affect credit scores.

No. A new mortgage can lower monthly outflow by spreading repayment across a longer term while increasing the total interest paid. Compare the new term, APR, closing costs, total interest, and how quickly you expect to repay the loan—not just the monthly payment.