Debt Consolidation Calculator
Consolidating Your Debt Could Save You Thousands!
The Debt Consolidation Calculator is a quick, practical way for homeowners to see whether rolling high-interest debt (credit cards, car loans, lines of credit, and other payments) into home equity could lower their monthly interest cost.
You enter each debt balance and interest rate, then choose a strategy—refinance, switch lenders, blend & increase, add a HELOC, add a second mortgage, or private options—and the calculator compares your current cost of debt against the estimated cost after consolidation, including common fees where applicable.
It also flags when mortgage penalties may apply and directs you to your Mortgage Penalty Calculators so the savings estimate is grounded in the real-world cost of breaking a mortgage.
In the end, the results make it simple: you’ll see whether you have Estimated Savings (in green) or an Estimated Extra Cost (in red), so you can move forward with clarity instead of guesswork.
Disclaimer
The mortgage calculators provided on this website are for general informational and illustrative purposes only. The results generated are based on user-entered information and standardized assumptions regarding interest rates, amortization periods, debt service ratios, stress test requirements, property taxes, and other inputs.
These tools do not constitute financial advice, mortgage advice, a mortgage approval, or a commitment to lend.
Actual mortgage qualification and terms depend on many factors, including but not limited to:
-
Verification of income and employment
-
Credit history and credit score
-
Existing debt obligations
-
Down payment source and documentation
-
Property type and location
-
Applicable federal and provincial regulations
-
Specific lender underwriting policies and guidelines
Lender policies and regulatory requirements may change without notice and may differ between financial institutions. As a result, the outcomes produced by these calculators may not reflect the final mortgage approval amount, interest rate, product structure, or conditions offered by a lender.
For advice tailored to your individual circumstances, please consult with me.
Mortgage services are provided in accordance with applicable provincial legislation, including the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Ontario) and regulated by the Financial Services Regulatory Authority of Ontario (FSRA) where applicable.
Get a free subscription to “The Mortgage Insider” containing rate updates and financial strategies!
