Will a consolidation loan actually save you money? Compare the remaining cost of your current debt payments with a loan offer, including fees and time to become debt-free.
Total cost difference
Initial monthly cash-flow change
Months
Fees: $0 additional modeled fees. Outflow falls as individual debts finish; it is not rolled forward.
Total remaining cost = current balances + future modeled interest.
Total cost = loan payments + fees paid separately. Financed fees are already included in payments and are not counted twice.
| Payment # | Date | Beginning Balance | Payment | Interest | Principal | Ending Balance |
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Monthly payment differences compare your initial current payments with the loan payment. Upfront fees are separate cash costs, not monthly payments. Calculations retain precision; displayed cents are rounded, so rounded components may differ by a cent.
Each current debt accrues interest at APR ÷ 12 each month, then receives its entered fixed payment. The final payment is reduced to the amount owed. The current plan finishes when its last debt is paid off; paid-off payments are not reassigned.
The consolidation loan uses a fixed-rate installment payment over the entered term. A financed origination fee increases principal. An upfront origination fee and other upfront fees increase cash cost without increasing principal.
A lower monthly payment does not necessarily mean lower total cost. Longer terms and fees can make a loan more expensive even at a lower APR. Savings compare total remaining current-debt cost with all loan payments and separately paid fees; extra borrowing is included in full.
Current debts assume fixed APRs, fixed monthly payments, monthly interest, no new charges and no changing minimums. The loan assumes a fixed APR and term, the entered fee treatment, and no late or deferred payments.
Actual lenders and cards may use daily interest, variable APRs, changing payment requirements, additional fees or promotional rates. This estimate is not a lender quote or financial advice. The loan must cover all entered debts; this tool does not allocate partial consolidation. An entered payment at or below monthly interest cannot repay that debt. Plans are bounded to 1,200 months (100 years).
Dates use calendar months with the original start-day anchor, capped at month-end, without timezone conversion. The optional break-even APR is not included in this version; compare offers by changing the APR and recalculating.