Payoff at this payment: 3 yr 10 mo · remaining interest $10,360
Egan Financial Group LLC · NMLS 2647764
The mortgage rate can go up. The monthly bills can still go down — and watch your wealth grow exponentially.
This is your calculator to play along with. Type your home value, remaining mortgage, and each card or car payment. The new rate starts at today’s HousingWire 30-year print. Slide how much of the monthly savings you want to send to extra principal, then read the equity and early-payoff numbers. Change every box. This is a sample market rate, not a quote; your rate may vary.
Nobody likes giving up a 3.5% mortgage. We do not either. The rate on that first loan is not the whole picture. Cards at 20% and a car payment are part of the same household. If you look at every dollar that leaves the checking account, a higher mortgage rate can still free money every month. The shift is from “protect the low rate” to “build wealth”: wipe the high-rate balances, then send some or all of what you used to pay those bills into the house.
The boxes below start with a sample file so you can see the idea. Overwrite them with your numbers.
Current home loan
What you have now
Current principal and interest: $1,812 · Equity now: $338,000
Debts to model
Enter each account
Check the box to roll that balance into a new first mortgage. Unchecked debts stay as monthly payments beside the new loan.
Payoff at this payment: 3 yr 10 mo · remaining interest $10,360
Payoff at this payment: 3 yr 3 mo · remaining interest $4,820
Payoff at this payment: 2 yr 3 mo · remaining interest $2,100
Payoff at this payment: 3 yr 6 mo · remaining interest $8,000
Proposed loan
New first mortgage
The new-loan rate starts at HousingWire’s 30-year conventional average as of September 11, 2026 (6.89%). That print updates when HousingWire publishes. Change the box if you have a quoted rate. This is a sample market rate, not a quote; your rate may vary.
New term
The monthly savings
How much of the freed-up money goes back to the house
After the cash-out, this worksheet says you would send $2,181 less out the door each month than you do now. Keep that in checking, or slide some or all of it onto extra principal.
Share of monthly savings to extra principal · 100%
$2,181 / month onto the loan
Extra house equity
$245,928
After 10 yr 7 mo, this much more of the house would be yours than if you kept the old mortgage. The extra principal is what does that. Proposed equity $700,000 versus $454,072 if you stay put.
Debts that are gone
$111,000
The card and car balances rolled into the new loan. Those payments stop the month you close. That is $111,000 off the household today, not years from now.
Wealth swing
$356,928
Extra house equity plus the debts paid off at closing. Less high-rate debt, more of the house belonging to you.
Paying the loan off early
$457,020
Interest you do not pay versus stretching the new loan the full 30 years with no extra principal. You also skip 173 mortgage payments versus today’s remaining term — about $313,521 of today’s P&I checks.
Extra equity plus paying the loan off early
$702,948
$245,928 more equity in the house, plus $457,020 of interest you never pay on the new loan if the extra principal stays on. Two different piles of money. Together they are the wealth this worksheet is pointing at.
Visa, Mastercard, Discover, Macy's, Vehicle loan would pay off in under 5 years at the current payment. Stretching that balance over 30 years can cost more interest even when the monthly payment drops.
Monthly change
−$2,181
How to read this
The first number people stare at is the mortgage rate. The number that hits the checking account is mortgage plus cards plus the car. This page is built to show both.
- Why would I refinance from 3.5% to a higher rate?
- You would not, if the mortgage is the only payment. If credit cards and a car are eating the checking account, the number that matters is everything that leaves each month, not the mortgage rate alone. A cash-out at a higher rate can still cut the total. If you send that savings to principal, the new loan can be gone years sooner. The calculator starts with that kind of file. Change the numbers. It is an estimate, not a quote from Egan Financial Group LLC.
- Can I consolidate credit cards and auto loans into my mortgage?
- Often, with a cash-out refinance. The new first mortgage pays off the current mortgage plus the debts you check. Conventional cash-out is commonly capped near 80% LTV and still has to qualify on credit, DTI, and appraisal.
- Does a lower monthly payment mean I save money?
- Not always. Wrapping a 3-year auto loan into a 30-year mortgage can cut the payment and raise total interest — unless you send the monthly savings to principal. Leave that box checked to see the shorter payoff. Uncheck it to see the full term.
- Is the Egan Financial debt consolidation calculator a loan offer?
- No. It is an estimate. Egan Financial Group LLC, NMLS 2647764, will price a live quote from credit, property, and investor rules. It is not a commitment to lend.
Related: cash-out refinance, rolling debts into a mortgage, refinance break-even.
Egan Financial Group LLC NMLS 2647764. Worksheet only. You type the rate. Taxes and insurance are the figures you entered and sit on both sides. Conventional cash-out is subject to credit, appraisal, occupancy, and investor overlays. Not a commitment to lend.