Loan Consolidation Calculator

Compare the modeled remaining repayment on current loans with one consolidation offer, including its financed origination fee.

Your Loan TermsTotal RepaymentFree

Current Loans

Loan 1

Loan 2

Loan 3

Consolidation Loan Terms

Modeled comparison
Current Total Monthly
New Monthly Payment
Monthly Payment Difference
Total Repayment Difference
Term Difference
Total Balance to Consolidate
The current-loan side assumes each entered payment stays fixed and rates accrue monthly until payoff. Confirm settlement charges, rate type, insurance, fee financing and any prepayment penalties before comparing an actual offer.

Frequently Asked Questions

Payment comparison workflow

Loan Consolidation Calculator: quick guide

Enter each current balance, scheduled monthly payment and annual rate, then the full terms of one consolidation offer.

  • What you get: current and proposed monthly payments, terms and total repayments.
  • How it works: each current loan is amortized month by month; the new loan finances the balances plus the entered fee.
  • What to check: obtain settlement figures and confirm whether fees are financed, paid upfront or excluded.

Planning estimate. A lower payment is not automatically cheaper, and this page does not recommend a loan.

Loan Consolidation Calculator FAQ

Why must every current payment exceed monthly interest?

If a payment does not cover the first month's interest, that balance does not amortize under this fixed-payment model and no honest payoff comparison is possible.

How is the fee handled?

The entered fee is added to the new principal. If an offer charges it upfront instead, adjust the comparison to match the contract.

What does total repayment difference mean?

It is current modeled repayment minus new modeled repayment. A positive amount means the consolidation side is lower under the entered assumptions.

Can a lower monthly payment cost more?
Yes. A longer term or added fees can increase total repayment even when the monthly payment falls.
Where can I obtain offer terms?
Ask eligible regulated lenders for written quotes and compare the same settlement amount and date. Availability and eligibility are provider-specific.
Will consolidation affect a credit report?
It may. Application searches, account closure and new borrowing can be reported differently by bureau and lender. Confirm the process before applying; this calculator does not access or predict a score.