Refinance / Debt Consolidation Calculator
Compare current debt payments with an estimated refinance payment and loan-to-value.
Before you use this tool
What it estimates
Compare current debt payments with an estimated refinance payment and loan-to-value.
Who it is for
Homeowners considering rolling high-interest debt into mortgage financing.
Numbers you need
Estimated home value, mortgage balance, debt to consolidate, current debt payments, proposed refinance rate, amortization, and fee or penalty estimate.
What the result means
The tool estimates the new mortgage amount, loan-to-value, payment change, cash-flow impact, and breakeven timing.
Next step
Review refinance options carefully, including payment relief, total interest, penalties, and qualification.
Check my refinance optionsNew mortgage
$478,000
Estimated LTV
63.7%
New payment
$2,915
Cash-flow change
$1,031
Estimated breakeven: 6 months
Breakeven compares estimated refinance costs against monthly cash-flow improvement. It does not measure total interest over the life of the debt.
Loan-to-value
Estimated LTV is 63.7% based on your inputs.
Monthly cash flow
Estimated monthly cash flow improves by $1,031.
Long-term cost warning
Consolidating short-term debt into a mortgage may lower payments but can increase total interest if stretched over many years.
Frequently asked questions
How much home equity do I typically need to refinance in Canada?
A conventional refinance is commonly estimated up to 80% of the home's value, which generally leaves at least 20% equity after the new mortgage amount. The available amount depends on the appraisal, lender criteria, credit, income, debts, and property. The maximum mortgage calculator can provide a separate affordability estimate, but neither calculator is a lender approval.
Does consolidating debt into a mortgage always save money?
No. Consolidation may reduce the estimated monthly payment because mortgage rates are often lower than unsecured-debt rates or because repayment is extended, but a longer amortization can increase total interest. Penalties, legal fees, appraisal costs, and lender pricing also matter. Results are estimates only, so compare both monthly cash flow and the total borrowing cost before proceeding.
Which debts can usually be included in a mortgage refinance?
Credit cards, lines of credit, personal loans, and some other obligations may be considered, but what can be paid out depends on lender criteria, available equity, documentation, and the refinance structure. Consolidation does not erase the debt; it moves eligible balances into secured borrowing. The GDS/TDS calculator can show how monthly obligations affect an estimated debt-service picture before refinancing.
What costs should I include in a refinance estimate?
Typical estimates may include the current lender's prepayment charge, discharge or registration costs, legal fees, appraisal costs, and any lender or broker fees that apply to the specific option. Some costs may be paid in cash or added to the mortgage if lender criteria allow. Confirm written payout and fee figures before relying on the calculator's estimated breakeven period.