Free Tool
Debt Consolidation Calculator
See how a cash-out refinance could roll your high-interest debt into one lower monthly payment.
The credit card debt trap
Credit cards charge 20–29% APR. Even if you pay every month, most of your payment goes to interest — not your balance. A cash-out refinance lets you pay off that debt at your mortgage rate, often cutting your total monthly payment by hundreds of dollars.
How it works
Enter your current debts
Tell us about your existing mortgage and any credit cards or high-interest loans you want to eliminate.
Enter your new loan details
Input the rate and terms of the cash-out refinance. We auto-calculate the loan amount needed to cover everything.
See your monthly relief
We show you exactly how much lower your monthly payment would be and how quickly you recoup the closing costs.
Step 1 — Your Current Mortgage
ExistingEnter your balance, rate, and remaining term — your current P&I payment is calculated automatically. You can override it below if your statement shows a different number.
Based on $320,000 at 3.75% for 312 months remaining.
Current P&I + debts
$2,018/mo
Increases by
$188
per month
New single payment
$2,207/mo
%Step 2 — Credit Cards & High-Interest Debt
Add each credit card or high-interest loan you want to roll into the refinance. APR is the annual interest rate on the card — you'll find it on your statement. Monthly payment is what you currently pay each month.
Step 3 — Proposed Cash-Out Refinance
New LoanThis is the new loan that replaces your current mortgage and pays off your debts. The loan amount is auto-calculated (your mortgage balance + all debts + closing costs), but you can override it. Closing costs typically run 2–4% of the loan amount.
Auto: $340,200 (balance + debt + closing costs)
Loan Term
Analysis Period
Choose how far out you want to compare interest costs. A shorter window (3–5 years) shows near-term savings; a longer window shows the full picture including the cost of extending your loan term.
Your monthly payment goes from
$2,018
today
$2,207
after refi
Monthly payment increases by
-$188/mo
Debts you'd eliminate
These balances get paid off at closing — no more minimum payments, no more 20%+ interest eating your paycheck.
How soon does it pay for itself?
Closing costs are a one-time fee. Your monthly savings pay them back over time. Once you hit the break-even point, every month after that is pure savings.
New payment is higher — no break-even on closing costs.
Why this works: the rate gap
Your credit cards are charging you a blended rate far above your mortgage rate. A cash-out refi collapses all of that into one lower rate — that's where the monthly savings come from.
Current blended rate
4.54%
across all debts
New rate
6.75%
one mortgage
This calculator provides estimates for educational purposes only and does not constitute financial or legal advice. Results are based on simplified assumptions and inputs provided. Actual loan terms, rates, and costs will vary. Consolidating debt into a mortgage may extend your repayment period and increase total interest paid. Consult a licensed mortgage professional before making any financial decisions. Eddie Gamez | NMLS# 2115994 | Edge Home Finance