Oklahoma homeowners are sitting on a powerful debt-busting tool — are you using it?

Credit card APRs are still above 21%. The average Oklahoma household carries nearly $5,800 in card debt. But if you own a home, Envoy Mortgage's Debt Consolidation Calculator shows exactly how a cash-out refinance could swap that punishing interest for a single, lower monthly payment.

1. 1
   Enter your current mortgage details. Pull your latest statement for your original loan amount, interest rate, term, and the year you closed. Envoy's calculator uses your closing year to estimate how much principal you've paid down — which becomes your available equity pool.
2. 2
   List every debt you want to consolidate. The calculator has a "+ Add Debt" button — add credit cards, auto loans, personal loans, or medical bills. For each one, enter the balance, interest rate, and current monthly payment. If you leave the rate blank, it defaults to 17.5%.
3. 3
   Enter your new loan info. Plug in the current rate you'd qualify for (around 6–6.5% in May 2026), your desired new term (15 or 30 years), and estimated closing costs (typically 2–3% of the new loan). Envoy's OKC branch team can give you a real rate quote in minutes.
4. 4
   Read the Debt Consolidation Scenario panel. On the right side of Envoy's calculator you'll instantly see your total monthly savings, the new blended loan amount, new payment, and closing costs. The example scenario shows $827/month in savings — that's $9,924 per year back in an Oklahoma family's budget.
5. 5
   Download the PDF summary. The calculator generates a shareable PDF of your full scenario. Bring it to your Envoy loan officer — it's a ready-made starting point for your actual refi conversation, no guesswork needed.

1. A
   Homeowners who bought pre-2022 and have significant equity. Oklahoma homes have appreciated 3–5% annually. If you bought in 2018–2021 at lower prices, your equity cushion is larger than you think — and you have more to work with in a cash-out refinance.
2. B
   Families juggling multiple high-interest debts. Oklahoma's credit card debt balances grew 14.9% year-over-year — one of the fastest rates in the country. If you're making minimum payments on 2–3 cards, consolidating into one mortgage payment can dramatically simplify your finances.
3. C
   Anyone with an auto loan and credit card debt combined. The calculator lets you add multiple debt types. An Oklahoman with a $25K credit card balance and a $15K auto loan paying $2,000/month in combined debt could see dramatic relief by folding both into a refi at 6.25%.