Should I Consolidate Debt into a Home Equity Loan? Existing Accounts AmountPaymentInt Rate Auto Loan Auto Loan Boat/RV Loan Other Loans Credit Card Credit Card Credit Card Other Account Other Account Consolidation Loan Interest Rate Length of Loan (Yrs) Upfront Costs ($) Discount Points Tax Rate (%) Instructions Enter estimated account information on all credit accounts you wish to consolidate. Additional accounts can be grouped into one entry. You may be better off not including loans which will be paid off sooner than your proposed consolidation loan, even if their interest rate is higher than the consolidation loan's rate. Results Account Analysis Total Debt: $0.00Monthly Payments: $0.00Monthly Interest: $0.00Aggregate Interest Rate: 0.000% Equity Loan Analysis Loan Amount: $0.00Monthly Payment: $0.00 Monthly Interest: $0.00Interest Rate: % Financial Analysis Yearly Interest Savings: $0.00Additional Tax Savings: $0.00Total Cost of Loan: $0.00Break Even: 0 Yr(s) 0 Mth(s) Payoff Timeline: 0 Yr(s) 0 Mth(s) Explanation This calculator analyzes the interest and tax savings associated with consolidating credit accounts into a home equity loan. Based on the costs of the loan, a break even period is calculated to figure how long it will take before your savings equal the costs of obtaining the consolidation loan. Consolidation loans can significantly decrease the required monthly payment as it is amortized over a long period of time. This calculator figures how long it will take to pay off the consolidation loan if you make a payment equal to your total monthly payments before consolidating.