Debt payoff calculator
See what moving your cards and loans onto a HELOC would do to your payment, your interest and the date you're debt-free.
How much can you save by consolidating debt with a HELOC?
Consolidating debt with a HELOC can lower both the monthly payment and total interest. In this example, $34,200 across two cards and a personal loan costs $935/mo and takes 7 yr 3 mo to clear, with $27,043 in interest. On a HELOC at 7.75% APR with a 7-year payoff, the payment is $529/mo: $16,824 less interest.
What would consolidating save you?
Enter each card or loan with the payment you make now. The three below are an example.
| Debt | Balance | APR | Monthly payment | Remove |
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$ |
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$ |
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$ |
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Debt-free in 7 yr 3 mo at today's payments, 7 yr with the HELOC plan.
$16,824 less interest. During the draw period the lender may only require interest, $221/mo, but paying only that never clears the balance.
A short payoff costs more per month than your minimums, but it clears the debt years sooner. Try a longer term to see the trade.
$27,043$10,219Email me these results
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How to read the result
You pay now is the sum of the payments you entered. At today's payments assumes you keep paying exactly that each month until each balance is gone.
With a HELOC is a fixed payment that clears the whole balance over the term you pick. Lenders usually require only interest during the draw period; paying the amount shown here is what actually gets you out.
Before you consolidate, decide what happens to the cards. Keep them open for your credit score, but take them out of your wallet. The full playbook.
How the calculator works
For your current debts, it simulates each month: interest on each balance at its APR, then your payment, until every balance is zero. For the HELOC, it uses a standard loan formula at the rate and payoff period you choose. Total interest is the sum of every month's interest. If a payment doesn't cover the monthly interest, that debt would never be paid off, and the calculator says so.
Three scenarios worth running
- Same payment. Set the HELOC payoff so the payment matches what you pay now. You'll see how much faster the debt disappears.
- Lower payment. Choose a longer payoff to free up monthly cash, and note how the interest savings shrink.
- Rate stress. Raise the HELOC rate by 2 points. If the savings survive that, the plan is sturdy.
Assumptions
- Card APRs and payments stay the same, and no new charges are added.
- The HELOC rate stays the same for the payoff period. Real HELOC rates can move with prime unless you lock.
- Closing costs and annual fees aren't included; add them to the comparison yourself.
What to do with the result
If the savings are meaningful and the payment fits, check how much you could borrow, then get real quotes. How much can I borrow · Debt consolidation guide.
Questions people ask
Why can a HELOC payoff payment be higher than my card minimums?
Card minimums are set to keep you paying for years. A 5-year payoff is a real plan. Pick a longer term to lower the payment; the interest is still usually far below the cards.
What HELOC rate should I use in the debt payoff calculator?
Use the prime rate (7.00%) plus your lender's margin. For 720–759 credit, that comes to about 8.00%–9.75% APR as of October 28, 2026. Margins by credit score.
What if a debt's minimum payment doesn't cover the interest?
The debt payoff calculator flags any debt whose payment doesn't cover its monthly interest. That balance will never be paid off at that payment, which makes consolidating it more urgent.
Is a HELOC worth it to consolidate a small balance?
Often not. Under about $10,000, a 0% balance transfer you can clear in the promo window often beats a HELOC for paying off the debt. HELOC vs. balance transfer.
Before you run it
- Collect each card's balance, APR and minimum.
Also asked
Can I include a car loan or personal loan in a HELOC consolidation?
Yes. Enter any debt with its balance, rate and payment. Compare carefully: moving a low-rate auto loan may not save much.