Pegasus Debt Consolidation Calculator
Your current mortgage
Proposed new mortgage
Monthly saving
$480.33
Now: mortgage + debts each month
$3,397.13
After consolidating
$2,916.80
New mortgage amount
$527,000
Interest on revolving debt is estimated as simple interest on the full balance over the term, so it assumes those balances are not being paid down. Consolidating usually lowers the monthly payment by stretching the debt over a longer amortization, which can increase the total interest paid over time. Results are estimates for illustration only and do not constitute an offer of credit or financial advice. Actual figures depend on lender qualification, term, and closing costs. Speak with a licensed Pegasus mortgage agent before making any decision.
Current debts
| Current Debts | Balance Owing | Interest Rate | Interest Paid Over Term | Monthly Payment | |
|---|---|---|---|---|---|
| $11,994.00 | |||||
| $5,600.00 | |||||
| Total | $70,000.00 | $17,594.00 | $1,200.00 | ||
| Current 1st Mortgage | $450,000.00 | $2,197.13 | |||
| Other Mortgages (2nd or 3rd) | |||||
| Total Debts & Monthly Payment with Mortgage | $520,000.00 | $3,397.13 | |||
Debt Consolidation Recommended Loan Amount
| Total Debts & Mortgage | $520,000.00 |
|---|---|
| Penalty to break current mortgages | |
| Approx Legal Fees | |
| Additional Fee (Brokerage Fee, Appraisal Fee, Lender Fee etc) | |
| Total Recommended Loan Amount | $527,000.00 |
Term Summary
| Current | New | |
|---|---|---|
| Total Principal & Interest Payment for Term | $52,731.12 | $70,003.20 |
| Total Principal Paid during Term | $24,068.38 | $24,024.27 |
| Total Interest Paid during Term | $28,662.74 | $45,978.93 |
| Balance at end of Term | $425,931.63 | $502,975.71 |
Both columns are the mortgage alone over its term — the current one at 3.29%, the recommended one at 4.5%. The consumer debts are inside the new balance, which is why its interest is the larger figure.
Cash Flow Savings Summary
| Current Monthly Payment Mortgage + Debts | $3,397.13 |
|---|---|
| New Mortgage Payment (all debts paid off) | $2,916.80 |
| Monthly Savings | $480.33 |
Interest Savings Summary
| Current Interest on Debts over term | $17,594.00 |
|---|---|
| Interest on Debts added to Mortgage over term | $6,107.27 |
| Interest Savings Over Term | $11,486.73 |
The first line assumes the debts are carried at their own rates and never paid down; the second is what the same balances cost inside the new mortgage over its term. It compares interest only — a longer amortization can still cost more once the term is over.