Debt Consolidation Calculator
This calculator will help you to decide whether or not you
should consolidate your debt at a lower, tax deductible interest rate with
a home equity loan or second mortgage. It will also
calculate how many months it will take to break even on the closing costs. Remember
- your first mortgage will not change.
If you include your first mortgage in the consolidation, you can take cash out up to 90% of the value of your home. If you do - change the mortgage rate to today's rates +.125% for a cash out refinance, instead of prime rate, and change the term to 30 years.
Note: When entering numbers into the data fields only use numbers and applicable decimal points. Entering commas, dollar signs, or any other non-numeric characters will cause an error.