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Rates, terms, refinancing and how to get the best deal.
Read guide →Debt Consolidation Calculator
Before-and-after savings comparison.
🧩 Debt Consolidation Calculator
New monthly payment
Total savings
Monthly change:
How to Use
- Enter your total debt and the average APR you pay now.
- Enter your current total monthly payment.
- Enter the new loan APR and term.
- Compare monthly and total savings.
Calculation Method
The new consolidation loan is amortized at its APR and term. Current cost is estimated by paying the same balance at your blended APR with your current monthly payment. Total savings = current total cost − new total cost.
Examples
$25,000 at 21% → 12% over 4 years
Monthly payment near $658 and several thousand dollars saved versus the high-APR path.
Frequently Asked Questions
A new loan adds a hard inquiry and a new account, but lowering utilization and making on-time payments can help over time.
Usually when the new APR is meaningfully lower than your blended current APR and you avoid stretching the term so far that total cost rises.
It lowers the monthly payment but can increase total interest. Aim for the shortest term you can afford.
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Read guide →Disclaimer
Calculations are estimates based on the information you provide. Actual loan terms, rates, and payments vary by lender, credit score, and other factors. SmartLoanCalcs is not a lender and this is not a loan offer. We are not responsible for decisions made based on these calculations — consider consulting a licensed lender or financial advisor.
Last updated: May 24, 2026