Debt Consolidation Calculator

Will consolidating my debts into one loan reduce my monthly payments and/or save me money?

Starting with the first line of entry fields, enter each one of your debts, along with their corresponding principal balances, interest rates and monthly payment amounts (the last two columns will be filled in by the calculator). Once you have entered all of the debts 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. IMPORTANT: In order for the this calculator to work, each debt must have the four left-hand fields filled in (for interest-free debts enter .001 just to satisfy the required interest-rate entry).
Entry Columns				Calculated Columns (will be filled in by calculator)
Payment Description	Principal Balance	Interest Rate	Payment Amount	Interest Cost	# of Pmts Left
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 Consolidating	WITH Consolidating	Difference
Total of Monthly Payment(s):
Months until debts are paid off:
Total Cost (Interest Charges and Loan Fees):
Summary
This calculator is not meant to replace your good common sense or the advice of your mortgage and/or tax professional.

Contact us for a free mortgage quote. There's no obligation, and we look forward to working with you.