Jonathan Muse · Muse Mortgage & Loan
NMLS #2430021 · (912) 515-6659
NMLS #2430021 · (912) 515-6659
A tool for homeowners
Can you deal with a card or a car loan without giving up your mortgage rate? Put in your numbers and compare paying it down, a home equity line, and a cash-out refinance, side by side.
Your mortgage
The payoff balance on your current mortgage, from your statement.
The interest rate on the loan you have now.
Principal and interest only, not taxes or insurance. It’s on your statement.
Only used to show how much of your equity each path uses. Lenders set their own limits; we don’t guess them.
The debts you’re weighing
“What you pay now” is the amount you actually send each month, held steady. Untick “Pay off” to leave a debt out of the consolidation; it then runs on its own in every path.
The two alternatives
A home equity line keeps your mortgage as it is. Most HELOC rates are variable, so the result also shows a higher-rate column.
A cash-out replaces your whole mortgage with a new 30-year loan at this rate.
Interest-only payments during the draw. 10 years is common; use your lender’s figure.
After the draw, the balance is paid down over this many years and the payment steps up.
Enter what your lender quotes. Leave 0 if there are none.
Starts at 1.5% of the new loan (at least $3,000) until you change it.
The window the “interest and fees” and “still owed” figures cover. Lifetime totals are shown separately.
A stress test for the variable HELOC rate, not a forecast.
Nothing here is a rate quote. The HELOC and cash-out rates are whatever you type; we never guess them for you.
Your comparison
Enter your mortgage, at least one debt, and the two rates you’ve been quoted, and the comparison appears here.
Three ways to handle it
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| Stay put | HELOC | Cash-out refinance |
|---|
These figures are estimates for illustration only, based on numbers you entered. They are not a rate quote, an offer to lend, or a commitment to extend credit. Actual rates, payments and costs depend on your application and are subject to credit review and underwriting approval.
Talk it through
Tell me which path you’re leaning toward and I’ll check it against your actual situation. No obligation.
Information you submit here is used only to contact you about financing. It is not sold or shared with third parties for marketing. See our privacy policy.
Real numbers take about fifteen minutes. This calculator ran on your guesses; an application gives you actual rates, payments and costs for your situation and where you’re trying to go. There’s no obligation, and it doesn’t commit you to anything.