Refinancing & Managing Debt
Refinance & Debt Consolidation
Compare keeping your existing mortgage and debts against refinancing and consolidating everything into one mortgage.
Current Mortgage
$
Illustrative rate — not a live lender offer
%
Other Debts to Consolidate
Balance
$
Rate
%
Min. payment
$
Balance
$
Rate
%
Min. payment
$
Proposed Refinance
Illustrative rate — not a live lender offer
%
Estimate only — confirm with your lender
$
$
$
Comparison over 5 years
Keep as-is
Monthly payment
$3,501.09
Interest + fees
$112,420
Balance remaining
$345,780
Refinance & consolidate
Monthly payment
$2,615.15
Interest + fees
$113,738
Transaction costs
$6,400
Balance remaining
$391,829
Monthly cash-flow difference
$885.93 less/month
Interest + fee difference over 5 years: $1,318 more
Extending your amortization reduces monthly payments but increases total interest paid over the life of the mortgage. A lower payment is not automatically a saving.
Consolidating unsecured debt (credit cards, lines of credit) into a mortgage secures that debt against your home. Confirm prepayment penalties with your lender — they are estimates only.
Results are estimates. Canadian semi-annual compounding used for mortgage calculations. Debt interest uses monthly compounding. Penalties are estimates — confirm with your lender. Rates shown are illustrative examples, not live lender offers. Calculated: 2026-10-22.
Ready to discuss your refinancing options?
WealthKey will review your full picture and help you understand the true cost of refinancing.
Discuss My Refinancing OptionsWealthKey Mortgage Brokerage Inc. · FSRA Lic. #13857 · 1.888.887.3642