Debt Consolidation Calculator

This calculator will show you how consolidating your all of your debts into one lower interest loan can reduce your monthly payments.

Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Loan Information" default entries and then click on the "Calculate New" button.

Balance Payment Interest
Additional Cash?
New Loan Information
Enter data about your planned New Loan with us (change any of the proposed numbers below).
Proposed interest rate (%):
Loan term:
Estimated closing costs ($):
Federal & state tax rate (%):
Results Current New Loan
Total debts:
Effective rate before taxes:
Effective rate after taxes:
Total monthly payment:
Monthly savings:
Annual savings:
Five year savings:
Ultimate Savings Report
What if you were to pay the same OLD payments instead of your NEW LOWER PAYMENTS... (which is your choice every month)... your monthly SAVINGS will reduce the loan principal each month, SHORTENING the loan itself... without ANY more costs than you used to pay.
Total years SAVED if same OLD payments are made on NEW loan:
Total years until "FREE & CLEAR" if savings are paid to principal:
TOTAL INTEREST SAVED over life of loan if savings are applied to principal:

Consolidation Saves You Money

Consumers moving through life add various forms of debt to their overall burdens.  Student loans, automobile financing, credit card charges, mortgages and other loans pile-up over time, creating hard-to-manage situations for borrowers. To simplify repayment and get relief from budget-crushing payment obligations, borrowers choose debt consolidation, which bundles multiple loans into single debts requiring only one monthly payment.

Why Consolidation Makes Sense

There are a number of benefits driving people toward loan consolidation, which is applied to individual cases in specific debt-reducing ways.

Lower Interest Rates – The number-one draw toward consolidation is the ability to bundle loans together under a single interest rate, lowering total monthly payments as a result.  Interest rates change over time, reflecting economic health and other conditions influencing global monetary standings.  When rates are not favorable, consumers strap-in to high interest credit cards and mortgages, because there is little choice for financing.  As time passes, borrowers assemble various forms of credit debt, each issued at its own interest rate.  By bundling individual outstanding loans and other debts into single-payment consolidation options, terms and conditions are often improved, including lower interest rates.

Fixed Interest Rates – Loan products are not always structured to include consistent interest levels during repayment.  For borrowers tied to variable rate accounts with interest rates all over the map, consolidation provides opportunities to secure fixed-rate terms, which are better for budgeting repayment.  In other cases, loans are set-up to include large bullet payments at the end of the repayment term.  As the balloon amounts come due, borrowers seek consolidation options to lump them in with other debt obligations.  By securing fixed financing, future uncertainty is eliminated, preserving interest rates until the loan is paid off.

Single Payment Convenience – Managing debt becomes more difficult as statements pile-up and loan terms fall across the gamut of interest rates and charges. Due dates are not synched, calling for multiple payments each month, and postage adds-up for payments sent by mail. Consolidation puts each of your loan products on the same track – and the same billing statement.

Comprehensive Debt Review

Evaluating total debt and scrutinizing repayment terms periodically illuminates shortcomings in the way you repay loans. Consolidation presents options for borrowers saddled with multiple debts.  The types of debts frequently consolidated include:

Student Loans – Government-backed student loans lead the way for consolidation efforts.  As college students progress through school, legislation and ongoing changes to student lending result in some students carrying multiple student loans, each issued under different terms and conditions.  In this unique case, its possible to have several monthly payments going-out to the same lender, with different interest rates, payment dates, and charges attached. To simplify student loan repayment, Uncle Sam stepped-in with consolidation options allowing students to convert to better rates and make one payment each month.

Revolving Credit Debt – Credit cards and other open-ended credit arrangements allow consumers to continue adding to their revolving debt. As a result, debt accumulates at different rates, on cards with different interest rates.  Debt consolidation calculator provides a wide-angle view of debt repayment strategies, furnishing interest payment information for whatever consolidation scenarios you create.