Loans & consolidation
Business Debt Consolidation Calculator
Compare a new loan with your current remaining payments. See monthly relief and the total cost tradeoff together.
How to use this calculator
- Use the payoff amount to be refinanced, and enter the actual rate and term from a quote.
- Enter fees paid in cash. This version does not add fees to the loan balance.
- Compare against the remaining repayments on your current debts, excluding amounts you already paid.
How the calculation works
The new payment is calculated using fixed-rate monthly amortization. New total cost equals all new payments plus the cash-paid fee. Monthly relief subtracts the new payment from the current monthly payment. Total cost savings subtracts new total cost from the current plan remaining repayments. A lower payment can still produce a higher total cost over a longer term. A negative savings result makes that tradeoff visible.
Worked example
These results use the editable example values shown in the calculator. They illustrate the method and do not predict an offer or outcome.
- New monthly payment
- $3,321.43
- Monthly payment reduction
- $4,678.57
- New total remaining cost
- $122,571.51
- Total cost savings vs current plan
- -$2,571.51
Questions about the results
Can a lower monthly payment cost more overall?
Yes. Extending repayment can reduce the payment while increasing the total amount paid. Review both results and any early payoff charges.
Does this determine whether I qualify?
No. This is a quote comparison. It does not assess underwriting, credit approval or whether existing contracts permit the proposed transaction.