Home equity and debt planning
Debt consolidation calculator
Estimate available home-equity capacity, combine entered debts and compare current payments with a secured repayment illustration.
01
Property and secured debt
Estimate equity capacity using a selected combined loan-to-value.
02
Debts to consolidate
Enter current balances, rates and the total monthly payments.
03
New borrowing illustration
Compare the consolidated portion over an entered amortization.
Estimated monthly cash-flow change
+$1,843
$75,000 of debt included in the illustration
Potential secured capacity$340,000
Total debts entered$75,000
Weighted current rate15.26%
New portion payment$457/mo
Current annual interest$11,443
New first-year interest$4,118
Replacing unsecured debt with mortgage debt puts the home at risk and can increase total interest if repayment is stretched over many years. Re-borrowing paid-off credit can reverse the benefit.
Read the result carefully
A lower payment does not erase the debt.
- Moving unsecured debt onto a home can reduce the rate but makes the debt secured by the property.
- Extending short-term debt over 20 or 30 years can increase lifetime interest unless there is a faster repayment plan.
- An appraisal, income and credit review, legal work, fees and a lender's maximum LTV still apply.