Debt Consolidation Calculator: Lower Your Monthly Payments

Debt consolidation combines multiple high-interest debts into a single loan with a lower rate, potentially saving thousands in interest and simplifying your financial life to one monthly payment. Our debt consolidation calculator compares your current total monthly payments and interest costs against a consolidated loan to show your exact savings.

The math only works if the consolidation loan rate is significantly lower than your weighted average current rate and you do not extend the repayment term so far that you pay more total interest. The calculator models different loan terms so you can find the sweet spot between a manageable monthly payment and minimizing total cost.

Personal loans, balance transfer cards, home equity loans, and 401(k) loans are all consolidation options with different rates, terms, and risks. Use our personal loan calculator to estimate unsecured consolidation costs, our HELOC calculator for secured options, and our debt-to-income calculator to check if you qualify for the best rates.