Tools - Calculators


DEBT CONSOLIDATION CALCULATOR

This calculator will show you how consolidating your all of your debts into one lower interest mortgage can reduce your monthly payments.

Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Mortgage Information" default entries and then click on the "Calculate" button.

Credit Type Balance Payment Interest Rate Annual Fees

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Mortgage Credit Card Auto Loan Line of Credit Student Loan Other

Additional Cash? Purpose... Pay personal IOU's Improve home Vacation Support family Self-employment business Combination of uses

New Loan Information Enter data about your planned New Loan with us (change any of the proposed numbers below).

Proposed interest rate (%)

Loan Term 1 Year 2 Years 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years

Estimated closing costs ($)

Results Current New Loan

Total Debts

Effective rate before taxes

Effective rate after taxes

Total monthly payment

Monthly savings

Annual savings

Five year savings

Ultimate Savings Report

What if you were to pay the same OLD payments instead of your NEW LOWER PAYMENTS... (which is your choice every month)... your monthly SAVINGS will reduce the loan principal each month, SHORTENING the loan itself... without ANY more costs than you used to pay.

Total years SAVED if same OLD payments are made on NEW loan

Total years until "FREE & CLEAR" if savings are paid to principal

TOTAL INTEREST SAVED over life of loan if savings are applied to principal

Information is provided for sample purposes only. SherwoodMortgageGroup.com does not guarantee its accuracy. Information should be verified and should not be relied upon as legal, financial, or other advice.