To speak with an RBC credit specialist, call 1-855-834-1782.
Did you know that you can combine all of your high-interest debt – including debt from credit cards, auto loans and personal lines of credit – into one low-rate mortgage loan? By consolidating debt in a secured loan, backed by the equity in your property, you can access interest rates lower than even a personal line of credit would allow.
Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator.
Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results.
But, if you are looking to have one convenient payment each month or to improve your monthly cash flow while still working toward being debt free, an RBC credit specialist can help. The current payment amount is based on the total monthly payment amount for all debts at the time of calculation, which could include interest-only payments for credit cards and lines of credit balances, and assumes that the debt is repaid in equal monthly installments for the specified comparison period, and depending on how much is paid toward the principal, could potentially have a balance at the end of the comparison period (may not be paid off in full).
Personal lending products offered by Royal Bank of Canada and are subject to credit approval.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice.
Refinancing requires you to break your mortgage term early and consolidate your mortgage and other debts into one loan of up to 80% of your home’s value (otherwise known as the LTV, Loan-to-Value ratio).
This calculator is designed to help determine if debt consolidation is right for you.
Fill in your loan amounts, credit card balances and other outstanding debt.
HELOCs give you the flexibility to access as much or as little equity as you wish.
In addition, HELOCs do not require you to pay down a portion of the loan principle each month.