Compare a list of current debts with a hypothetical fixed-rate consolidation loan. Enter matching balances, APRs and monthly payments in the same order, then specify the new loan rate, term and origination fee. The calculator estimates a balance-weighted APR and a simplified current-payment scenario, alongside the fee-inclusive consolidation payment. Existing minimum-payment rules can change over time, so this comparison is not a lender payoff quote or financial recommendation. Review the assumptions and total costs carefully.
Enter one to twenty debt balances, their APRs and monthly payments in matching order.
Set the consolidation APR, term and origination fee.
Compare the fee-inclusive new payment and interest with the simplified current-payment estimate.
Weighted APR: Σ(balance × APR) ÷ Σ(balance)
Fee-inclusive principal: Total balances × (1 + origination fee percentage ÷ 100)
New monthly payment: Fixed-rate payment over the selected term
Is consolidation always cheaper?
No. Fees, a longer term and missed payments can increase cost. Compare the total repayment and loan terms, not only the monthly payment.
Is the current-debt result an exact payoff plan?
No. It combines balances using a weighted APR and the entered combined payment. Account-level minimum formulas and fees can produce a different result.