Debt Consolidation Calculator

This calculator will show you how consolidating your high interest debt into one lower interest loan can reduce your monthly payments and provide you with income tax savings at the same time.

Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Loan Information" default entries and then click on the "Calculate New" button.

Consolidate Debt:
Payment Description Principal Balance Interest Rate Payment Amount Payments Left Interest Left
$ % $ $
$ % $ $
$ % $ $
$ % $ $
$ % $ $
$ % $ $
$ % $ $
$ % $ $
$ % $ $
$ % $ $
TOTALS >> $ $ $
New Loan Information:
Add extra cash to loan total Interest Rate Number of Years Estimated Closing Costs Federal & State Tax Rate
$ % $ %
Results:
Current New Loan
Total Principal Balance: $ $
Effective Rate Before Taxes: % %
Effective Rate After Taxes: % %
Total of Monthly Payments: $ $
Monthly Tax Savings: $
Monthly Payment Reduction: $
Total Monthly Savings: $