Debt consolidation calculator.

List your credit cards and loans, then compare what you pay now with one HELOC or a cash-out refinance for the same total: the monthly payment, the total interest and how long until the debt is gone. Results show as you type, with no email.

Your debts

Credit cards, personal loans and other debts you would pay off. Use the payment you make each month now.

Debt 1
Debt 2
Debt 3

Up to 10 debts.

Pay them off with
New loan

Example rate: the prime rate as of Oct 20, 2026, 7.00%, plus a 1.00% margin; your lender sets the margin.

Payments

Your debts vs one new loan

You pay now each month

$860.00

With one HELOC

$333.65

  • Your debts now$860.00
  • One HELOC$333.65
The same $27,500, two ways
MeasureYour debts nowOne HELOC
Monthly payment$860$334
Total interest$14,485$12,538
Fees and closing costs$0$0
Paid off in58 months120 months
Amount borrowed$27,500
Interest and fees saved$1,947

Paying off $27,500 of debts with one HELOC at 8.00% lowers your monthly payment from $860.00 to $333.65. Over the life of the HELOC you would pay about $12,538 in interest and fees, $1,947 less than the $14,485 in interest at your current payments.

This moves unsecured debt onto your home. If you can’t make the new payments, you could lose your home. If the cards are used again, you would owe both.

These figures are estimates for planning only and are not an offer or a quote. Each debt is paid at the payment you enter until it is gone, and the HELOC rate is held steady although HELOC rates usually change. Whether you can borrow this much depends on your home’s value and the lender; see how much you could borrow. See our disclosures.

How this is calculated

Your debts are paid at the payments you make now. The new loan borrows their total and is repaid on its own schedule. The HELOC and cash-out math is the same as the HELOC payment and cash-out refinance calculators.

  • Each debt at today’s payment

    each month: balance + balance × APR ÷ 12 − payment

    Repeated until the balance reaches zero; the last payment is whatever is left. $9,000 at 13.50% paid at $305 a month takes 37 months and about $1,999 in interest. A payment that does not cover the first month’s interest never pays the debt off.

  • The HELOC payment

    B × i ÷ (1 − (1 + i)−n)

    $27,500 at 8.00% over 120 months is $333.65 a month and $12,538 in interest. With interest only first, the payment is B × rate ÷ 12, $183.33 here, and then the full balance is repaid over the repayment years.

  • With a cash-out refinance

    (mortgage balance + debts) ÷ (1 − cost %)

    The new loan pays off your mortgage and the debts and carries the closing costs. It is compared with your current mortgage payment plus your debt payments, and with the interest left on both.

  • Steady payments. Each debt is paid at the amount you enter every month. Card minimums usually shrink as the balance does, which stretches payoff out further.
  • Fixed rates. Card and loan APRs and the HELOC rate are held where you enter them; HELOC rates usually follow the prime rate.
  • Your home secures the new loan. The CFPB warns that if you don’t pay back a home equity loan used to consolidate debt, you could lose your home in foreclosure, and that closing costs can be hundreds or thousands of dollars.

Sources

  • Federal Reserve, H.15 Selected Interest Rates: bank prime loan rate 7.00%, as of October 20, 2026.
  • Freddie Mac, Primary Mortgage Market Survey: 30-year fixed 7.40%, week of October 15, 2026.
  • CFPB, “What do I need to know about consolidating my credit card debt?” (last reviewed September 2, 2026).
  • CFPB, “What you should know about home equity lines of credit” (last reviewed April 3, 2024).

Last reviewed October 22, 2026.

Questions about debt consolidation with home equity

Does consolidating debt with a HELOC save money?

It can lower the rate: HELOC rates are usually the prime rate, 7.00% as of October 20, 2026, plus a margin, while credit cards often charge far more. But stretching the debt over 10 or 20 years can add interest back, so compare the total interest, not only the monthly payment. The table in this calculator shows both.

What are the risks of using home equity to pay off credit cards?

Your home secures the new loan. The CFPB warns that using home equity to consolidate credit card debt is risky: if you don't pay back the loan, you could lose your home in foreclosure. If the cards are used again, you could owe both the new loan and new card balances, and HELOC rates usually change with the prime rate.

Is a HELOC or a cash-out refinance better for debt consolidation?

A HELOC leaves your first mortgage alone and borrows only the debt total. A cash-out refinance replaces your whole mortgage, so if your current rate is low, moving the full balance to today's rate can cost more than the debt you are paying off. Switch this calculator to a cash-out refinance to see that comparison with your mortgage included.

What if my payment does not cover the interest?

Then that balance never gets paid off at that payment, and the calculator flags it. Credit card minimum payments usually shrink as the balance shrinks; this calculator holds each payment steady at what you enter, which pays the debt off sooner than paying only the minimum.

Do I have to give my email or phone number to see results?

No. This calculator runs in your browser and shows every result as you type. Nothing you enter is sent to LenderMatch. If you later want offers from lenders, the HELOC form is a separate step you choose to take.

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