DEBT CONSOLIDATION CALCULATOR
Compare your current mortgage and debts with a cash-out refinance or HELOC. See the monthly payment, interest and fees, and the balance you would still owe.
Compare my options ↓A longer repayment period can increase total cost. A refinance or HELOC used to pay unsecured debt puts your home behind that debt; missed payments could lead to foreclosure.
The existing mortgage and other debts are hypothetical examples. No email is required. Entries stay in this page, are not saved, and are not sent to Jay or Analytics.
These are hypothetical examples, not customer stories or loan offers. Each uses the same $40,000 in other debt. Your existing mortgage changes; the new-loan assumptions stay the same.
EXAMPLE A
A $300,000 mortgage at an example 3.5% rate, with $1,500 monthly principal and interest.
Compare the cost of replacing this mortgage with keeping it and adding a HELOC. Check the remaining balance as well as the starting payment.
EXAMPLE B
A $300,000 mortgage at an example 7.5% rate, with $2,400 monthly principal and interest.
See how a different existing rate and payment change the comparison. A new 30-year term can still leave debt outstanding for longer.
Loading an example replaces your current entries. Both examples use $25,000 at 22% with a fixed $750 monthly payment, plus $15,000 at 12% with a fixed $400 payment. Cash-out refinance: example 6.99%, 30 years, $2,029 financed costs. HELOC: example 7%, principal and interest from the start, 30 years, $1,795 financed costs. No mortgage insurance or annual HELOC fee. Comparison period: 5 years. Change these assumptions to match actual offers; rates and fees are illustrations only.
The HELOC rate is held constant for the main comparison, with a separate +2-point illustration. Actual variable rates and payments can change. Taxes, homeowners insurance and HOA dues are excluded. Consolidating unsecured debt against your home creates foreclosure risk if you cannot repay.
You changed an entry. Select “Compare my three options” to refresh the results.
This monthly model pays all entered debts in full at the start of either new-loan option. There is no additional cash out, future borrowing, or new card spending. Baseline debt payments stop at payoff and are not redirected to other debts. First-mortgage and refinance rates remain fixed; HELOC rates are held constant for each illustration.
Interest and fees include interest, entered mortgage insurance, upfront costs (whether financed or paid in cash), and entered annual HELOC fees. Principal repayment is not a borrowing cost. Financed fees count once and accrue interest. The model excludes taxes, homeowners insurance, HOA dues, escrow, prepaid interest, tax effects, prepayment or early-closure penalties, future refinancing or selling costs, and the time value of money. Actual daily interest, payoff quotes and lender rounding may differ.
Enter applicable mortgage insurance and all fees; leaving them at zero can understate costs. The HELOC assumes one initial draw, no redraws, and either interest-only payments followed by full amortization or amortization from the start. It does not model balloon balances, rate floors/caps or minimum-payment formulas. Repayment periods and financing of fees depend on the lender.
This is not an approval, APR calculation or loan recommendation. It does not check home value, available equity, credit, income or eligibility. Jay can check those details and compare alternatives such as a fixed-rate home equity loan, a personal loan or a repayment plan.
Educational sources: CFPB debt consolidation considerations and how HELOCs work. Learn more in the home equity guide and keeping your first mortgage guide.
YOUR NEXT STEP
Jay can help weigh payment relief, total cost and your longer-term goals.
