Debt Consolidation Loan Calculator
Model a new consolidation loan from the total debt you want to roll in, APR, term, and origination fee — then compare the new payment to what you pay in minimums today. Click any i for detail.
Consolidation loan inputs
Total debt to consolidate ($)
i
Total debt
Sum of balances you plan to pay off with the new loan (cards, personal loans, etc.). |
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New loan APR (%)
i
APR
Quoted annual percentage rate on the consolidation loan. |
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Term (months)
i
Term
Number of months to repay the new loan. |
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Origination fee (%)
i
Origination fee
Lender fee as a percent of the loan amount. |
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Finance origination fee?
i
Finance fee
Yes adds the fee to principal; No withholds it from proceeds. |
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Current total minimums ($/mo, optional)
i
Current minimums
Sum of minimum payments on the debts being consolidated — used for a quick payment comparison. |
How to use this calculator
- Enter the total debt you want to consolidate.
- Add the new loan APR, term, and origination fee.
- Choose whether the fee is financed or withheld.
- Optionally enter today’s combined minimums to compare payments.
Results explained
The headline is the new monthly payment on an amortizing consolidation loan. Total interest and a comparison to your current minimums appear in the range and breakdown.
Quick reference: consolidation costs
Fees change either principal or cash received.
| Item | Detail |
|---|---|
| Fee dollars | Debt × origination % |
| Payment principal | Debt + fee if financed; otherwise debt |
| Monthly payment | Standard amortizing PMT |
| Total interest | Payments over term − principal |
Compare payoff strategies with the debt avalanche calculator or debt snowball calculator.
How the estimate is built
Payment uses fixed-rate amortization via Calcscape loan math. If the fee is financed it is added to principal; if withheld, payment is based on the debt amount and net proceeds are reduced.
Example scenario
Consolidating $22,000 at 11.9% for 60 months with a 3% fee typically produces a mid-hundreds monthly payment — often lower than stacking card minimums, but watch total interest and the new payoff date.
FAQ
Is consolidation always cheaper?
A lower payment can still cost more interest over a longer term. Compare total interest and any fees, not just the monthly bill.
Should I finance the origination fee?
Financing raises principal and interest; withholding reduces cash received. Use the toggle to see both.
Does this close my old accounts?
No — this models loan math only. Paying off cards or loans is a separate step with each creditor.
What about credit score impact?
Opening a new loan and closing old accounts can move utilization and average age of credit. This tool does not score your file.