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Debt Consolidation Calculator

Will consolidating my debts into one loan reduce my monthly payments and/or save me money?
Starting with the first line of entry fields, enter each one of your debts, along with their corresponding principal balances, interest rates and monthly payment amounts (the last two columns will be filled in by the calculator). Once you have entered all of the debts you wish to consolidate, click on the "Compute Current Debt Cost" button. Next, enter the consolidating loan's interest rate, term and any origination fees that might apply and click the "Compute Consolidation Loan Costs" button.

IMPORTANT: In order for the this calculator to work, each debt must have the four left-hand fields filled in (for interest-free debts enter .001 just to satisfy the required interest-rate entry).

Entry Columns Calculated Columns
(will be filled in by calculator)
Payment
Description
Principal
Balance
Interest
Rate
Payment
Amount
Interest
Cost
# of Pmts
Left
Totals
Consolidation Loan Terms
Enter the Consolidating Loan's Annual Interest Rate (APR):
Enter the Consolidating Loan's term (number of years):
Enter total of any Consolidation Loan Fees:
Results
Without
Consolidating
WITH
Consolidating
Difference
Total of Monthly Payment(s):
Months until debts are paid off:
Total Cost (Interest Charges and Loan Fees):
Summary


This debt consolidation calculator is just a beginning point. Contact your Homeland Capital Mortgage Consultant with your questions. We will find the right program for you.

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Carmel, Indiana 46032
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