Refinance + Debt Consolidation

Before/after household payment comparison

Client

...

Current Mortgage

$
$
%
$
yrs
mo
$

High-Rate Debt to Consolidate

▾
DebtBalanceRateMonthly Payment

New Mortgage Terms

▾
yr
%
yr

Refinance Costs

▾
Penalty$5,000
Entered above - edit in Current Mortgage section
Legal Fees
$
Varies by provider
Appraisal
$
May be covered by lender
Title Insurance
$
One-time, required
Discharge Fee
$
Current lender's discharge
Penalty$5,000
Legal + Fees$3,400
Total Refinance Cost$8,400

Consolidation Summary

Monthly Savings

$320

Freed up cash flow

Annual Savings

$3,843

$320/mo x 12

Interest Saved on Debt

$0/yr

0 debts at lower rate

Before vs After

▾
Before (Current)
Mortgage Payment
$2,601
Total Monthly
$2,601
→
After (Consolidated)
New Mortgage Payment
$2,281
New Mortgage Amount
$408,400
LTV
51.0%
Total Monthly
$2,281

Cost Breakdown

Current Balance

$400,000

Debt Rolled In

$0

Costs + Penalty

$8,400

New Mortgage

$408,400

Savings Detail

▾
Monthly Savings
$320
Freed up cash flow
Annual Savings
$3,843
Interest Saved on Debt
$0/yr
From 0 debts at lower rate
Refinance Costs
$8,400
Penalty + legal + fees
Annual Interest: Debt Before
$0
0 debts at high rates

Numbers are estimates based on Canadian semi-annual compounding. Not financial advice.