Debt Consolidation Calculator
See how much you could save by consolidating multiple debts into one loan. Compare current vs consolidated payments.
Interest rate on the new consolidated loan
You Could Save
$3,108.73
in total interest by consolidating
Current Debts
After Consolidation
💡 Monthly Savings
You'd save $103.14/month — that's $1,237.65/year you could invest or put toward savings.
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Simplify Your Debt
Juggling multiple debt payments with different due dates and interest rates is stressful and expensive. Debt consolidation rolls everything into one payment, often at a lower rate, so you can focus on becoming debt-free.
How to Choose a Consolidation Loan
Look for a rate lower than your current weighted average APR. Consider the total interest over the life of the loan, not just the monthly payment. A lower monthly payment with a longer term might cost more overall.
Frequently Asked Questions
What is debt consolidation?
Will debt consolidation hurt my credit score?
When does debt consolidation make sense?
Recommended Tools
LendingTree
Compare mortgage rates from multiple lenders. Get up to 5 offers in minutes.
Bankrate
Find the best loan rates and financial products. Trusted by millions.
Credit Karma
Check your credit score for free and get personalized loan offers.
Rocket Mortgage
Get approved in minutes. America's largest mortgage lender.
SoFi
Refinance student loans and mortgages at lower rates. No fees.
NerdWallet
Compare credit cards, loans, and insurance. Free financial tools.
We may earn a commission if you sign up through these links, at no extra cost to you.