Home Equity Debt Consolidation Calculator

Evaluate whether using home equity to consolidate debt is a smart financial move.

Current Debt

Total Debt to Consolidate

Current Average Interest Rate

Current Monthly Payment

Home Equity Loan

HELOC Interest Rate

Loan Term120 months

60 months240 months

Closing Costs

Tax Bracket

Consolidation Analysis

Keep Current Debt

Payoff Time50

Total Interest$14,155

Home Equity Consolidation

Monthly Payment$378

Total Interest$14,879

Tax Savings$3,571

Net Cost$41,808

Monthly Savings$522

Total Savings$2,347

Recommendation0

Warning: Using home equity puts your home at risk. If you cannot make payments, you could lose your home. Tax deductibility depends on how funds are used. Consult a tax professional.