Debt Consolidation Calculator
Debts to consolidate
Credit cards
Car loan
Line of credit
Your property and mortgage
Consolidating $65,000 of debt changes your monthly payments from $4,290.00 to $3,177.11.
Monthly cash flow freed up
$1,112.89
Your payments would go from $4,290.00 a month across 4 obligations to $3,177.11 — $13,355 a year back in your pocket.
- Debt consolidated
- $65,000
- New secured balance
- $521,000
- Resulting loan-to-value
- 57.9%
- Interest over 5 years
- $135,981
Lower payments, but more interest
Your monthly payment falls by $1,112.89, but over the next 5 years you would pay $8,684 MORE in interest — because the debt is spread over a much longer period. That can still be the right decision if cash flow is the immediate problem, but it should be a deliberate choice, not a surprise.| Debt | Balance | Rate | Payment |
|---|---|---|---|
| Credit cards | $25,000 | 19.99% | $750.00 |
| Car loan | $22,000 | 7.99% | $540.00 |
| Line of credit | $18,000 | 10.99% | $400.00 |
| Existing mortgage | $450,000 | 4.99% | $2,600.00 |
Consolidating unsecured debt secures it against your home. That lowers the rate but means the debt is now tied to your property. Clover Mortgage Inc. is a licensed mortgage brokerage. This calculator provides estimates for information only and is not an offer of credit, an approval, or financial advice.
Every mortgage is different. A Clover Mortgage broker can confirm what you actually qualify for across more than 50 lenders — at no cost to you.
Monthly cash freed up
$1,112.89
Common questions
- Does consolidating debt always save money?
- It almost always lowers your monthly payment, because mortgage rates are far below credit-card rates and the term is much longer. Whether it saves total interest depends on how long you take to repay it. This calculator shows both figures side by side.