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    Debt consolidation calculator

    See what your mortgage payment could look like if you roll credit cards, a car loan or a line of credit into it, and how fast you could pay it off.

    Start your application →

    What does this calculator estimate?

    It estimates your new mortgage payment after adding your debts to the balance, compares that with what you pay each month today, and shows how much cash you free up. Then it shows how quickly the mortgage could be paid down if you put part of that money back as extra payments.

    It's an estimate built on the numbers you enter. It doesn't know your penalty, your credit or whether you'll pass the stress test, so treat the result as a starting point for a conversation, not an approval.

    • Checks your equity room against the 80% refinance limit.
    • Compares today's total monthly payments with one consolidated payment.
    • Shows the effect of putting freed-up cash back on the mortgage.
    • Doesn't include penalties, legal fees or a qualification check.

    Step 1: LTV (Loan-to-Value) check

    First, let's check if you have enough equity in your home to consolidate your debts. You'll need at least 20% equity to proceed with refinancing.

    Current market value of your property

    The amount you still owe on your mortgage

    Your LTV

    60.0%

    Your Equity

    $200,000.00

    Available for Refinancing

    $100,000.00

    Great news! Your LTV of 60.0% is below the 80% maximum. You can access $100,000.00 for debt consolidation.

    Worked example using the default inputs

    These are the calculator's starting values. The rates are illustrative, not current market rates.

    Starting point (example): a $500,000 home with a $300,000 mortgage at 5.25% and 25 years remaining. Debts are $10,000 on a credit card at 19.99% ($300 minimum) and $15,000 on a personal loan at 9.5% ($350 a month).

    Today: mortgage about $1,798 plus $650 in debt payments, roughly $2,448 a month.

    After consolidating (example 5%, 25-year amortization): a $325,000 mortgage at 65% of the home's value, with a payment of about $1,900. That frees up roughly $548 a month.

    Now the part people skip. Spread over 25 years, that $25,000 of debt would cost about $18,800 in interest at the example rate. That's why the calculator's later steps matter: sending even half the freed-up cash back to the mortgage shortens the amortization and cuts that figure down considerably.

    Before you act on the result, add your prepayment penalty and closing costs to the new mortgage amount and run it again. On a fixed rate, the penalty is the greater of three months' interest or the interest rate differential. If you're close to the end of your term, look at consolidating when your mortgage renews instead, since there's no penalty at maturity.

    For the full picture, including trade-offs, credit impact and what to do if your equity is thin, read our guide to rolling credit card debt into your mortgage. It's also worth comparing a full mortgage refinance with a home equity line of credit if you'd rather keep your current mortgage in place.

    Frequently asked questions

    How the calculator works and where its limits are.

    How accurate is the debt consolidation calculator?

    It's a solid first estimate, not a quote. It uses the rates and balances you enter and simple monthly compounding, while most Canadian fixed-rate mortgages compound semi-annually, so real payments will differ slightly. It also leaves out your prepayment penalty, legal and appraisal costs, which you should add to the new mortgage amount yourself.

    Why does the calculator cap consolidation at 80% of my home's value?

    Because that's the maximum for a refinance in Canada. Your existing mortgage plus the debts you roll in can't exceed 80% of the appraised value. If the calculator shows less room than your debts, it consolidates only what fits.

    What mortgage rate should I enter?

    Use a rate you've actually been quoted if you have one. If not, try a few different rates to see how sensitive the result is. The calculator's defaults are examples only, not current market rates.

    Does the result mean I'll qualify?

    No. Qualifying depends on your income, credit and the stress test, which uses the greater of your contract rate plus 2% or 5.25%. The calculator doesn't check any of that. An agent can review it with you before you apply.

    What does the accelerated payoff part show?

    It shows what happens if you send part of the monthly cash you free up back to the mortgage as extra payments. Usually that shortens the amortization and cuts total interest. The investment projection uses the return you enter and isn't a forecast.

    Turn the estimate into a real plan

    Start your application and an agent will check your equity, your penalty and the stress test before you commit to anything.

    Start your debt consolidation application

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