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Debt consolidation comparison

A lower payment can come with a longer repayment period. Compare the payment and financing cost before moving debts into a new loan.

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Your scenario

Start with the basics

Change the example amounts below. More details are there when you need them.

Compare optionsNumber of debts

Debt 1

Debt nameRemaining balance $Interest rate %Fixed monthly payment $This payment stays fixed; it is not a declining minimum.

Debt 2

Debt nameRemaining balance $Interest rate %Fixed monthly payment $This payment stays fixed; it is not a declining minimum.

Debt 3

Debt nameRemaining balance $Interest rate %Fixed monthly payment $This payment stays fixed; it is not a declining minimum.

New consolidation loan

Interest rate %Loan term yearsLoan fee % of debt consolidatedFinance the loan fee

Your result

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Assumptions and example inputs

Example inputs are editable placeholders to show how the calculator works. Results are estimates, not quotes or approvals, and they do not use live rates or lender pricing.

Existing monthly payments stay fixed and stop when each debt is paid off. Freed payments are not applied to the other debts. No new borrowing is modeled.
A debt that cannot be repaid with the entered payment is flagged. Total savings are not claimed when a payoff cannot be determined. If the new loan is secured by your home, missed payments can put the home at risk.

Fred ChiltonLicensed mortgage broker · NMLS #1810817

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