Debt Consolidation Calculator

If you have multiple debts, especially if one or more are on credit cards, it's likely that you'll be able to save money and pay off your debt quicker by consolidating your debt to one, lower interest loan. This calculator will allow you to see how much money you can save. If you're unable to get a loan to consolidate your debts, see our Accelerated Debt Payoff Calculator to find out how much faster you can pay off your debt by using the rollover method.

Note: There are many "debt management" companies that will attempt to take advantage of you by accepting one monthly payment from you and distributing it to your creditors (whom they get a better deal from). This is very often a bad deal for you. If you're considering consolidating your debts, make sure you actually get the loan and payoff your debts yourself.

Debt Consolidation Calculator

Find out how much money you can save by consolidating your debt into one, lower interest loan. Simply enter your debt information below, enter the terms of the new loan, and click Calculate New to see the results.

Balance Payment Interest
Additional Cash?
New Loan Information
Enter data about your planned new loan (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:
Affective rate before taxes:
Affective rate after taxes:
Total monthly payment:
Monthly savings:
Annual savings:
Five year savings:
Ultimate Savings Report

Below, you can see the affect of making the same payments you're making now, toward your new lower interest loan. You'll be able to save much more money in the long run and payoff your debt quicker.

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:

What You Should Know