Loan Consolidation Calculator

Loan Consolidation Calculator

Can you lower your payments by consolidating loans?

This loan calculator will help you determine if consolidating your debts into a single lower-interest loan will help you lower your payments.

 

Asterisk (*) indicates required fields.

Enter information about the loans you would like to consolidate:
TipCurrent Balance - Enter the amount of principal due on each loan. You can estimate this amount, but for more accurate results, check your most recent statements for the "total amount due" or "amount for payoff."
TipMonthly Payment - Enter your monthly payment for each loan.
TipCurrent Balance - Enter the amount of principal due on each loan. You can estimate this amount, but for more accurate results, check your most recent statements for the "total amount due" or "amount for payoff."
TipMonthly Payment - Enter your monthly payment for each loan.
TipCurrent Balance - Enter the amount of principal due on each loan. You can estimate this amount, but for more accurate results, check your most recent statements for the "total amount due" or "amount for payoff."
TipMonthly Payment - Enter your monthly payment for each loan.
TipCurrent Balance - Enter the amount of principal due on each loan. You can estimate this amount, but for more accurate results, check your most recent statements for the "total amount due" or "amount for payoff."
TipMonthly Payment - Enter your monthly payment for each loan.
TipCurrent Balance - Enter the amount of principal due on each loan. You can estimate this amount, but for more accurate results, check your most recent statements for the "total amount due" or "amount for payoff."
TipMonthly Payment - Enter your monthly payment for each loan.
TipCurrent Balance - Enter the amount of principal due on each loan. You can estimate this amount, but for more accurate results, check your most recent statements for the "total amount due" or "amount for payoff."
TipMonthly Payment - Enter your monthly payment for each loan.
Enter information about your consolidation loan:
TipLoan Amount - The calculator will calculate this based on the information you provide.
TipInterest Rate - Enter the interest rate that you will pay on your new consolidation loan.
TipTerm - Enter the term you desire for your new consolidation loan.
This calculator determines how your monthly debt payments would change if you consolidate your debt into one loan. Remember that debt consolidation can lower your monthly payments, but it can also increase the cost of debt over the life of the loan, if you increase the pay-off term significantly. Therefore, it may not make sense to consolidate loans that will be paid off in the near future. Talk to a financial advisor for more information on your particular situation.

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