Debt consolidation refinance calculator

Roll high-interest debt into your mortgage: the cash flow you free and the interest it really costs.

Credit cards
Default: Bank of Canada average on card balances (2026-08).
Unsecured line of credit
Car loan
Other debt
The refinance
Breaking mid-term? Estimate the penalty and add it.
Monthly cash flow freed$1,064$1,400 of debt payments become $336 on the mortgage

Total interest three ways

Keep paying the debtsDebt-free in 51 months$14,906
Roll in, pay over 22 years$336/mo$32,618
Lowest interestRoll in, keep paying the old amountCleared in 44 months$4,832
Interest only, plus the penalty and fees you add. Spreading $1 of card debt over a mortgage amortization can cost more interest than paying the card off fast.
MeasureKeep paying the debtsRoll in, pay over 22 yearsRoll in, keep paying the old amount
Interest$14,906$32,618$4,832
Your home becomes the securityFCAC warns that you can face serious consequences, including foreclosure, if you can't repay money borrowed against your home. Close or lower the limits on paid-off cards so the balances don't come back.

Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.

Frees $1,064 a month. Interest: $14,906 keeping the debts, $32,618 rolled into 22 years, $4,832 if you keep paying the old amount.

Monthly payments before and afterYour current debt payments vs the extra mortgage payment for the same debt.$0$500$1K$2K$2KNowAfter refinancing
Show the numbers
Monthly payments before and after
Monthly paymentsMonthly
Now$1K
After refinancing$336
Assumptions & sources

Assumptions

  • Debts are paid at the monthly payment you enter until cleared (cards at a fixed payment; real minimums fall as the balance does).
  • Rolled-in debt is a separate slice of the mortgage at the refinance rate, semi-annual compounding.
  • Default debt rates are Bank of Canada averages with their own dates; use your statements.

Sources

  1. Financial Consumer Agency of Canada — Borrowing money using home equity (80% / 65% limits, fees, risk to your home) (effective October 15, 2025). Checked .
  2. Justice Laws — Bank Act, s. 418: 80% limit on uninsured residential loans (including refinances) (effective September 1, 2026). Checked .
  3. Justice Laws — Interest Act, s. 6 (mortgage rates stated yearly or half-yearly, not in advance). Checked .
  4. Bank of Canada — Effective rate on outstanding credit card balances (series V122667812) (effective August 1, 2026). Checked .
  5. Bank of Canada — Effective rate on new unsecured personal lines of credit (series V122667807) (effective August 1, 2026). Checked .
  6. Bank of Canada — Effective rate on new personal loan plans (series V122667804) (effective August 1, 2026). Checked .
  7. Bank of Canada — Effective rate on new auto loans (personal loan plans) (series V122667805) (effective August 1, 2026). Checked .
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