🏡 How much would you save selling your home to pay debt?
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You make $56k a year, but you're drowning in $137k of debt across credit cards, a car, and a Parent Plus loan. You have equity in your home, but the monthly payments are suffocating you. This calculator helps you see exactly how much cash you'd free up by selling your house, paying off all your debt, and downsizing to a condo.
🏡 Property & Mortgage Details
Enter the current value of your home and what you still owe on the mortgage. This determines your gross equity before selling costs.
💳 Current Debts
List the debts that are weighing you down. The goal is to see if your home equity can wipe these out entirely so you can start fresh.
Total Debt Balance
Total Monthly Debt Payments
💰 Sell Scenario
Selling a house isn't free. Agent commissions and closing costs will eat into your equity. Estimate those costs here, and enter the price of the condo you want to buy.
See Also
Calculator updated by heyfinfam (v26.7.0) · View history
Privacy: None of your data is transmitted to the author of this view or any other third parties. Financial inputs are never used to identify you; they're only used to calculate results.
Disclaimer: This content and any calculations provided are for informational purposes only. The views, calculations, and methodologies expressed are those of the author and do not necessarily reflect those of this platform. Not financial advice. Users are solely responsible for any decisions made based on this information.