Compare up to three current debts with a proposed fixed-rate consolidation loan using balances, APRs, payments, term, and fee you enter. This is an estimate, not a lender offer.
For each current debt, the tool estimates payoff duration and interest from your fixed payment. It compares that with payments and interest on a new fixed-rate loan for combined balances plus the fee.
The estimate assumes current payments stay unchanged and no new charges or rate changes occur. A longer term may lower payments but increase total cost.
Entered current balances/payments, proposed rate and term, and a fee added to the new balance.
The entered loan fee is financed. Other fees are not included.
No. A lower payment may come from a longer term and increase total interest.