Debt Consolidation Calculator

Eliminate credit card debt

The debt consolidation calculator below can be a very valuable tool when applying online. You can easily determine the benefits of refinancing your current loan, and eliminating your other debts. You can lower you monthly bills by consolidating your debt into one loan, with one interest rate, and one monthly payment.

Some people may not be aware of the big difference between credit card interest and mortgage interest. With credit cards the interest compounds daily and mortgages compound monthly.

Also, when income taxes are due, you will find that mortgage interest works with you and credit card interest works against you. By having your debt tied to real property, you can use a significant portion of your mortgage interest to help reduce your income tax obligations.

By lowering your monthly overhead you are now in control of your extra cash flow. You can pay more on your principal balance, invest in other properties, or any other way you see fit to spend your money.
Now you can estimate how much you can save on your monthly bills.

Input all of your recurring monthly debts, and a new loan term to see an estimate of what you can save each month. You can even take this a step further and input an additional monthly payment you plan to make to see how much faster you can pay off the new loan.