Mortgage Debt Consolidation Calculator
This calculator is designed to help determine whether using a mortgage to consolidate your debt is right for you.
How the mortgage debt consolidation calculator works
It combines your mortgage balance and the debts you want to roll in, amortizes the total at the new rate and term, and compares the single new payment against your current mortgage plus debt payments.
Worked example: with current mortgage balance of $220,000, current mortgage payment of $1,500 and other debts to roll in of $35,000, the mortgage debt consolidation calculator shows monthly payment saving of $696.07.
- Current total payment
- $2,350.00
- New consolidated payment
- $1,653.93
- Monthly change
- $696.07
- New loan amount
- $255,000
The formula
New loan = mortgage balance + debts. New payment = amortized at the new rate and term. Monthly change = current total payments − new payment.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the mortgage debt consolidation calculator
Should I roll debt into my mortgage?
It can sharply cut your monthly payment by swapping high-rate debt for low-rate mortgage debt. But spreading it over 30 years can raise total interest, and it secures that debt against your home.
What is the risk of a cash-out consolidation?
You convert unsecured debt into debt backed by your house, so missed payments could threaten your home. And a longer term may mean paying more interest overall despite the lower rate.
When does it make sense?
When the rate reduction is large, you avoid running the cleared cards back up, and you ideally make extra payments so the consolidated debt is not stretched over decades.
Is the Mortgage Debt Consolidation Calculator free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.