Debt Consolidation Calculator

Estimate the interest cost of your current debts vs. consolidating through home equity access.

Your Debts

Total Debt: $0

Home Equity Access Strategy

Compare scenarios
25 yr
⚠ Amortizations over 25 years are only available for uninsured mortgages (20%+ equity). Over 30 years is not available from regulated lenders for residential mortgages.

CMHC & LTV Estimate (optional)

Insured mortgage check
Property value and existing mortgage balance are both used: the existing balance shows your current LTV, while both together let the calculator check whether CMHC insurance applies after consolidation.
Want to sanity-check today’s pricing? You can view typical rate ranges here: AllenEhlert.com/rates-statistics
This calculator provides estimates only and does not include lender-specific underwriting rules. Use it to start the conversation—not to make the final decision.

Results

Live update
Current cost of debt (estimated interest)
$0 / month $0 / year
After consolidation (estimated)
$0 / month $0 / month interest
$0 / year interest
Estimated Change
$0 / month $0 / year
Interest cost change (apples-to-apples)
Add your debts on the left to see your estimated interest cost and whether consolidating could reduce it.
How the math works:
  • Current cost uses an interest-only estimate for each debt (balance × effective monthly rate).
  • Mortgage payments use Canadian semi-annual compounding as required by the Interest Act. The effective monthly rate is (1 + rate/2)1/6 − 1.
  • HELOC uses an interest-only estimate with simple monthly rate (rate ÷ 12), reflecting daily accrual — the correct convention for Canadian revolving credit products.
  • Fees are added to the consolidation amount as an estimate (for modeling only).
  • CMHC premium (if triggered) is added to the new principal before calculating the payment.
  • Fee break-even = total one-time costs (fees + CMHC) ÷ monthly interest saving. Shows how many months until the interest savings fully recover the upfront costs.
  • Total interest paid = (monthly payment × total months) − principal. Shows the full long-term cost of carrying the consolidated balance over the amortization period.
  • Payment change compares the new full P+I payment against the current interest-only proxy. A higher new payment is normal — you are now repaying principal on debt you may have previously paid interest-only.
  • Stress test payment = monthly payment at max(contract rate + 2%, 5.25%). This is the qualifying rate under OSFI guideline B-20. Lenders use this payment — not the actual payment — to assess whether you can afford the mortgage.

Scenario Comparison

Save a scenario above to compare options side by side.