Finance & Money
Personal Loan Consolidation Calculator
Combine three balances, calculate a balance-weighted current APR, add consolidation fees to the new amount financed, and compare payment relief with the new loan's scheduled cost.
Total balance to consolidate-
Balance-weighted current APR-
New amount financed-
Proposed consolidation payment-
Current payment minus proposed payment-
Current blended payoff estimate-
Scheduled payments on new loan-
New interest and fees above balances-
Decision view
Three-debt consolidation bridge
Three-debt consolidation bridgeCurrent payment, proposed payment, fees, and modeled financing cost are not blended into one number.
Exact scenario comparisonConsolidation APR (%) changes while all other entered assumptions remain constant.
| Consolidation APR (%) | Total balance to consolidate | Balance-weighted current APR | New amount financed | Proposed consolidation payment | Current payment minus proposed payment | Current blended payoff estimate | Scheduled payments on new loan | New interest and fees above balances |
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How to use Personal Loan Consolidation Calculator
- Obtain current balances and APRs from each creditor.
- Enter the proposed loan's exact rate, term, and fees.
- Compare total cost and payoff discipline, not only monthly savings.
Calculator guide
Understanding Personal Loan Consolidation Calculator
Debt consolidation should be judged on payment, term, fees, and total finance cost—not on the new monthly payment alone.
Calculation method
How the calculation works
Combine three balances, calculate their balance-weighted APR, and compare the current payment with a fee-inclusive fixed-rate consolidation loan. Sum balances, weight each APR by its balance, add the entered fee to the new principal, calculate the fixed payment, and compare payment and finance-cost references.
Consolidation test
Apply four gates before refinancing debt
A proposal is stronger when it passes every gate rather than only lowering payment.
Worked situations
Practical examples
- A longer term can lower payment while increasing total interest.
- Fees increase the new principal in this model.
- A weighted APR summarizes current balances but does not reproduce each account's amortization.
Better inputs
Useful tips
- Stop new revolving borrowing.
- Verify payoff and account closure procedures.
- Compare offers using the same term.
Before relying on the result
Limitations and common mistakes
- Current accounts are approximated with one weighted rate and combined payment.
- Promotional rates, minimum-payment rules, variable APRs, transfer timing, and creditor fees are excluded.
- Approval and credit-score effects are not modeled.
Reference
Key terms
- Weighted APR
- Balance-weighted average of entered current rates.
- Amount financed
- Balances plus the entered consolidation fee.
- Payment relief
- Current combined payment minus proposed payment.
- Finance cost
- Scheduled new-loan payments above the balances consolidated.
Important note
Calculated from the entered values and stated financial terms. It is not a product quote, lending decision, tax filing, or investment recommendation.
Frequently asked questions
Why use a weighted current APR?
It provides a transparent blended reference for different balances.
Are fees paid in cash?
This model finances them into the new principal.
Does monthly savings mean the loan is better?
No; term and total cost must also be compared.
Are credit-card minimum payments modeled exactly?
No.