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Debt Consolidation Calculator






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Debt Consolidation Loan Calculator
Calculate and compare any proposed debt consolidation loan to your current loan situation. This debt consolidation loan calculator will calculate your current loans, interest rates and repayments and compare them with a debt consolidation loan, which will be used to refinance all of your exisitng loans. This calculator will help you to determine whether or not consolidating will actually reduce the cost of retiring your debts.

Enter each one of your debts into the fields below, along with their corresponding principal balances, interest rates and monthly repayment amounts (note that the last two columns will be filled in by the calculator). Once you have entered all of your current debts that you wish to consolidate, click on the "Compute Current Debt Cost" button. Next, enter the consolidating loan's interest rate, term and any origination fees that might apply and click the "Compute Consolidation Loan Costs" button.

VERY IMPORTANT: Each debt must have every one of the four left-hand fields filled in (for interest-free debts enter .001 to meet the required interest-rate entry).

User Entry Columns

Calculated Columns (leave blank)

# Payment
Description
Principal
Balance
Interest
Rate
Payment
Amount
Interest
Cost
# of Payments
Left
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Totals
Consolidation Loan Terms
Enter the Consolidating Loan's Annual Interest Rate (APR):
Enter the Consolidating Loan's term (number of years):
Enter total of any Consolidation Loan Fees:
Results Without
Consol-
idating
With
Consol-
idating
Difference
Total of Monthly Payment(s):
Months until debts are paid off:
Total Cost (Interest Charges and Loan Fees):
Summary