Debt Consolidation Calculator

This Debt Consolidation Calculator will help quantify the financial change from one loan to another in terms of the variance per payment, per year, and over the lifetime of the loan at the proposed rate as well as the values if the original payment amount was continued. An example of this would be the consolidation of debts such as personal loans or credit card payments into a single loan with lower interest repayments. The calculator shows what the respective new payment for the consolidated loan would be at the new rate, and it shows you how much faster the loan can be paid back if the original repayment amount is continued. This way the payback of the new consolidated loan would be accelerated resulting in interest payment savings.

Current Loan

Current loan amount

 

$

Current loan term years

years

Current loan rate

%

Proposed Loan

Proposed loan amount

 

$

Proposed loan term years

years

Proposed loan rate

%

Monthly Payment Summary

Current monthly payment

 

$

Proposed monthly payment

$

Variance per payment

$

Lifetime Payment Summary

Current loan full repayment

$

Proposed loan full repayment

$

Variance over full repayment

$

Years @ (current payment), per month

years

Years @ (proposed payment), per month

years

Loan payback full term variance years

years

Proposed loan full repayment

$

Variance over full repayment

$


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