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Debt Consolidation Calculator

This calculator will help you to decide whether or not you should consolidate your debt at a lower, tax deductible interest rate with a home equity loan or second mortgage. It will also calculate how many months it will take to break even on the closing costs.

Note: When entering numbers into the data fields only use numbers and applicable decimal points. Entering commas, dollar signs, or any other non-numeric characters will cause an error. You must have JavaScript enabled on your browser to use this calculator.

Debts you want to Consolidate
Debt	Creditor	Amount Owed	Monthly Payment
		$	$
		$	$
		$	$
		$	$
		$	$

Debt Consolidation Loan
Enter interest rate for the debt consolidation loan:
Enter the loan term:
Enter the closing costs : (Typically, total closing costs run 2% of the loan amount)
Would you like to finance the closing costs?

The Results
What your monthly payment will be if you consolidate your debt:	$
Reduction in Monthly Payments:	$
Number of months to "break even":

Note: Amounts are estimates only.