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Should you consolidate debt into your mortgage?
Rolling higher-interest debts into the mortgage on your Ontario home can cut the monthly payment. This shows that saving and the total interest, so you can see both sides.
Debts you would pay off
The rate on the new, consolidated mortgage — from your quote
Enter each debt's rate and the mortgage rate you've been quoted to see the comparison.
How this tool works
- Each debt is paid at its current monthly payment until it's gone (monthly compounding).
- The consolidated mortgage is repaid over the amortization you choose at a constant rate; your current mortgage is compared over the same period.
- Refinancing is limited to 80% of your home's value and needs you to qualify at the stress-test rate. Subject to lender approval.
Rules checked 2026-10-23. Estimates only, not an offer or advice; a licensed broker confirms the numbers and every mortgage is subject to lender approval. Everything is calculated in your browser. The amounts you type are never sent to us.
Read next: Debt consolidation
Questions about the debt consolidation tool
Why can total interest go up when the monthly payment goes down?
Because debt that would have been paid off in a few years is spread over the mortgage's amortization. Paying the old debt payments onto the mortgage afterwards usually closes that gap.
What costs should I include?
Any penalty for breaking your current mortgage, legal fees and an appraisal. Doing this at renewal can avoid the penalty.
Does consolidating affect my credit?
Paying off cards usually helps your credit utilization. The risk is running the balances back up, which leaves you with both debts.
More tools: Refinance equity · HELOC room · Penalty estimator
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