1Your home and current mortgage
Your monthly mortgage statement has all of these.
Just the loan part of the payment, before taxes and insurance.
Leave blank if you pay these yourself.
2Debts you want to pay off
Uncheck "Pay off" to keep a debt as it is. Debts you keep stay the same in every option below.
Who you oweTypeBalanceMonthly paymentInterest ratePay off
Total being paid off
$0
Monthly payments on those debts
$0
Debts being paid off
0
3Option A: home equity loan or line of credit
A second loan on your home pays off the debts. Your first mortgage and its rate stay exactly as they are.
Not sure about closing costs? Leave it blank and we'll estimate it.
Auto fills as the debts being paid off plus closing costs.
This calculator shows a payment that pays the loan off over the term you pick. Many home equity lines allow smaller interest-only payments for the first years, but those don't pay down the balance and the payment jumps later, so we don't use them here. Most home equity line rates are variable and can go up.
4Option B: cash-out refinance
A brand new first mortgage pays off your current mortgage and the debts. Everything moves to the new rate.
Not sure about closing costs? Leave it blank and we'll estimate it.
Auto fills as your mortgage balance plus the debts plus closing costs.
About the closing cost estimate: it adds up lender and broker fees, an appraisal, title and recording, and Florida's taxes on new mortgages. Florida taxes a new mortgage at about 0.55% of the loan amount (documentary stamps 0.35% plus intangible tax 0.20%). On a home equity line, those taxes are charged on the full credit limit, not just what you use. Lender and title fees are on top of that.
Before you decide
- Your home becomes the collateral. Credit card debt is unsecured. Moving it to a home loan means missed payments can put your home at risk.
- A lower payment can still cost more. Spreading a credit card balance over 15 or 30 years can mean more total interest, even at a much lower rate. Check the "Interest plus closing costs" line, not just the monthly payment.
- Home equity line rates usually move. If rates rise, so does the payment.
- It only works if the cards stay paid off. Running the balances back up after consolidating leaves you with both debts.
- Approval isn't guaranteed. It depends on your credit, income, your home's value and the lender.
Want real numbers for your home?
I'll check which option actually fits, what your home will support, and what the rate and costs really look like today. No credit pull to start the conversation.