Debt Consolidation Calculator

This calculator compares two paths: paying the debts you have at their current payments, or clearing them with one consolidation loan. Enter up to four balances with their rates and monthly payments, then the rate, term and any origination fee on the loan being offered, and it returns both monthly payments and both interest totals side by side. A longer term almost always lowers the monthly payment and often raises the total interest, so both numbers are printed instead of a verdict. The comparison counts only what you type in, which means it ignores prepayment penalties, promotional rates that have not expired, annual fees, credit insurance, tax and any effect on your credit score; the only fee counted is the one you enter. If you would rather keep the debts you have and attack them in order, the debt payoff calculator does that instead.