Debt Consolidation Calculator
 
 

Debt Consolidation Calculator

This debt consolidation calculator compares the cost of all your current debts with consolidating them into one new loan to figure out how much you can save.

Simply enter all of the debts that will be consolidated, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered then enter the new loan information below that. The "Calculate" button will provide the answers.

Finally, another popular debt payoff strategy you might find useful is the rollover method using this Debt Snowball Calculator. Hope these calculators help you!
Credit
Type		 Balance Payment Interest
Rate		 Annual
Fees
Additional Cash?
New Loan Information
Enter new debt consolidation loan information (replace default entries)
New interest rate (%):
Loan term:
Estimated closing costs ($):
Combined Fed & 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:
How To Maximize Your Savings (See Below...)
Now suppose you chose to continue paying the same old payments instead of your NEW LOWER PAYMENTS. This would cause the savings to pay down principal faster thus shortening the cost of the new loan as well... without you ever paying more than you are already paying.
Total years saved if old higher payments are made on new loan:
Total years until debt free if savings are paid to principal:
Total interest cost saved over life of loan if savings are applied to principal:

 






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