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Debt Consolidation Facts

1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will identify you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have at least 2 credit cards and 14% of them have 10 or more credit cards.

Free Debt Consolidation Calculators

Debt Consolidation Calculators
Debt calculators include debt payoff goal calculators, advanced debt consolidation calculators and taking out home equity debt calculator, etc.

Mortgage Calculators
Mortgage calculators include items that calculate your monthly loan payments, mortgage amortization schedules, mortgage refinancing calculators, etc.

General Financial Calculators
General financial calculators include loan comparison calculators, effects of compound interest calculators and more.


Debt Consolidation Calculators

1) Debt Investment Calculator

Enter the current monthly payments you make towards your debt. Then, add the additional monthly payment you could squeeze out in order to pay off your debt faster. Then, click on "Compute" and you will see the Return on Investment (ROI) on your debt.

2) Debt to Income Ratio Calculator

This Debt Ratio calculator compares all your debt to all your income and gives a percentage % output. Experts in the finance industry suggest that your outstanding debts (that includes credit card & mortgage debt) should NOT exceed 36% of your Gross monthly income. This 36% is also referred to as the Debt-to-Income ratio. Learn more here about the importance of knowing your debt to income ratio.

Video: How to Use Debt Reduction Calculators

3) Debt Pay-Off Goal Calculator

This Debt Pay-Off Goal Calculator will tell you by how much you need to increase your monthly payments towards a particular debt, in order to pay off that debt at a specified future point in time.

4) Debt Consolidation Calculator

This simple debt consolidation calculator will tell you the Interest charge you pay every month on certain Debts, and the number of months it will take for you to get rid of this debt.

5) Advanced Debt Consolidation Calculator I

Many debt consolidation companies claim they will "save you money and reduce your debt by up to 50%." What they really mean by "saving you money" is that they will lower your current monthly payments by consolidating all of your debts into 1, but with a longer amortization period. This means you will pay a lower monthly payment but for a longer period of time (years). This actually means you will end up paying more interest charges & fees over the longer term but with a lower monthly payment every month.

6)  One Time Debt Investment Calculator

This One Time Debt Investment calculator will tell you how much Interest fees you will save if you add an extra one time payment to the original payments you make every month. For example, if you have an extra $50 saved up this month, and you use it to pay off your debt, this calculator will tell you the Interest Charges you will save by making that additional $50 payment.

7) Home Equity Debt Investment Calculator

This Calculator will tell you the benefits of consolidating all your high interest rate credit card debt into 1 single low interest loan using your home equity line of credit. You can enter 4 types of debts including Credit Card Debt, Auto Loans, Student Loans or Other. You enter the current principal balances owing, what interest rate you are paying as well as the monthly payment amount, and how many more months of payments are left.

8) Advanced Debt Consolidation Calculator II

This advanced debt consolidation calculator will tell you the total monthly savings you will make when you consolidate all of your high interest rate credit card debt into 1 single low debt consolidation loan. You can enter 5 types of debts including Mortgage Debt, Credit Card Debt, Auto Loans, Student Loans or Other. You enter the current principal balances owing, what interest rate you are paying as well as the monthly payment amount, and how many more months of payments are left.

9) Debt Investment Calculator with Amortization Schedule

Enter the current monthly payments you make towards your debt. Then, add the additional monthly payment you could squeeze out in order to pay off your debt faster. Then, click on "Compute" and you will see the Return on Investment (ROI) on your debt.

debt consolidation calculator

New: You can also print out a Payment Schedule showing you the amortization of your debt and monthly payments. Very handy feature!

Mortgage Calculators

1) Mortgage Refinancing Calculator

This mortgage refinancing calculator will tell you whether you should refinance your current mortgage loan on a lower interest rate. It will compare your currently monthly mortgage payments with your payments on the new refinanced interest rate, outputting the net savings you will have (Monthly Payment Reduction).

2) Mortgage Consolidation & Refinancing Calculator Version 1

If you have 2 different mortgages, this Mortgage Consolidation & Refinancing Calculator Version 1 will help you decide whether it is economically smart for you to consolidate both of your mortgage loans into 1 single loan, with a lower interest rate. It will compare your currently monthly mortgage payments with your payments on the new refinanced interest rate, outputting the net savings you will have (Monthly Payment Reduction).

3) Mortgage Consolidation & Refinancing Calculator Version 2

This mortgage consolidation & refinancing calculator version 2 is a bit different from version 1 in that you can determine if it is economically sensible for you to consolidate your 1st mortgage, or the consolidation of your 1st and 2nd mortgage into 1 single low interest rate mortgage. It will compare your currently monthly mortgage payments with your payments on the new refinanced interest rate, outputting the net savings you will have (Monthly Payment Reduction).

4) How Much Can I Save by Consolidating My Debts Calculator

This Debt Consolidation calculator asks you to list up to 10 different Debts that you owe including the # of payments, interest rate, Monthly payments, etc. You can then enter the interest rate and # of payments that you would have to make under the new debt consolidation loan.

free debt consolidation calculators

5) Simple Mortgage Amortization Calculator

This simple mortgage amortization calculator asks you to enter the outstanding loan amount you owe on your mortgage, the annual interest rate you are paying and your payoff goal (15 years, 20 years or 30 years).

6) Monthly Loan Payments Calculator

This monthly loan payments calculator asks you to enter the outstanding loan amount you owe on your mortgage, the annual interest rate you are paying and your payoff goal (15 years, 20 years or 30 years). It will then tell you your total monthly payments together with the total interest payments you will make over the life of the loan.

7) Mortgage Refinancing Calculator 2

This mortgage refinancing calculator compares your current original loan balance and your current interest rate with the new interest rate provided by the mortgage refinancing loan. You will then be able to see if it economically makes sense for you to refinance your mortgage with the newer interest rate.

8) Pre-qualify for Mortgage Loan Calculator

Want to know how much of a mortgage loan amount you can afford to take out? This calculator takes into account your current monthly income, the loan amortization term (15, 20, 30 years), interest rate you get and the down payment that you put down.

9) Home Affordability Calculator

This home affordability calculator will help you determine how much of a mortgage loan you can afford to take out in the 3 repayment periods (15 years, 20 years or 30 years). It asks you for the monthly payment you can afford and its applicable interest rate.

Video: Personal Budget Calculator

General Financial Calculators

1) Compare 3 different Loans Calculator

This calculator will output the monthly payments you have to make on 3 different loans and will allow you to compare which loan is more expensive for you and which one is cheaper. All you have to do is enter the # of payments you expect to make over the life of the loan, the applicable interest rate and the principal balance owing.

2) Compounding Interest Effect Calculator

This compound interest effect calculator takes an initial investment balance, the monthly contributions you will be making towards the investment and the yield you will be getting. It will then output the total amount of money you will have earned over the years specified.

 

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