I have an issue with credit as we're coming up to refinance our home.?

It is based on your credit to debt ratio, not your payout per month, in other words you will still have the same debt to income ratio. If you have enough equity to cover it that would work because you also have the tax write off. If it is another personal loan then dependent upon your credit rating, and income this might present a problem. Many people do this and then use their credit cards again increasing the problem ten fold.