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Debt Consolidation Calculator
Debt Consolidation
Compare your current debts with a single consolidated loan and see your potential savings
Current Debts
Consolidated Loan
$0
Total Estimated Savings
Over the life of the new loan
New Monthly Pmt
$0
Old Monthly Pmt
$0
Interest Saved
$0
Total Cost Comparison
About the Debt Consolidation Calculator
Compare what you pay now on several debts with what you would pay on one consolidation loan, including the origination fee.
How to use the Debt Consolidation Calculator
- Enter your Total Credit Card Balance and Average Credit Card APR.
- Enter your Other Loans Balance and Average Loan Rate.
- Enter the New Loan Term, New Loan Interest Rate and Loan Origin Fee, then press Calculate.
Formula and method
The calculator compares the interest cost of your current balances with the payment and total interest of the new loan, then shows the difference after fees.
Tips
- A lower payment from a longer term can cost more in total interest. Compare total cost, not only the monthly figure.
- Avoid running up the cleared credit cards again.
Frequently Asked Questions
A new credit check causes a small temporary dip, but paying off cards can improve your score over time.