Debt & Payoff
Debt Consolidation Calculator
Compare keeping your current debts with replacing them with one proposed consolidation loan. See payment, payoff time, interest, fees and total modeled cost side by side.
Current debts
Enter the balance, APR and fixed monthly payment you plan to keep making if you do not consolidate.
Up to 10 debts. Payments are modeled as fixed monthly amounts.
Proposed consolidation loan
Comparison
Current debts vs consolidation
| Metric | Current debts | Consolidation | Difference |
|---|---|---|---|
| Starting balance | — | — | — |
| Initial monthly payment | — | — | — |
| Debt-free in | — | — | — |
| Interest | — | — | — |
| Total modeled cost | — | — | — |
How the comparison works
Each current debt is modeled independently using its entered balance, APR and fixed monthly payment. Interest is calculated monthly and the final payment is capped at the remaining amount due.
The proposed consolidation loan combines the entered balances, adds the modeled origination fee to the new principal and calculates a fixed payment over the selected term.
Payment difference and total-cost difference are shown separately. A lower monthly payment can come from a longer repayment term and does not by itself mean the new loan costs less overall.
Next action
Frequently asked questions
What does debt consolidation do?
It replaces multiple modeled debts with one proposed loan. Consolidation changes the repayment structure; it does not erase the balances you owe.
Can a lower monthly payment cost more overall?
Yes. A longer term can reduce the scheduled monthly payment while keeping the debt outstanding longer. Compare total modeled cost as well as the monthly payment.
How is the origination fee handled?
This calculator assumes the entered percentage is financed into the new loan balance. Actual lender fee treatment can differ.
Does this predict whether I will be approved?
No. It is a mathematical planning tool and does not predict approval, eligibility, credit-score effects or lender decisions.
Educational estimate only. Actual loan terms, interest calculations, fees and lender treatment can differ. This is not financial, legal, tax or lending advice.