Debt Consolidation Calculator

Get an estimate of how much you can save by combining multiple debts into a single monthly payment with a fixed rate home equity loan.

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Find out how debt consolidation may help you lower your monthly payment.

Managing Debt

4 ways to consolidate your debt
Managing Debt

How does debt consolidation work?

Consolidate $ of debt with us for the low rate of % APR* for a 10-30 year term. You could save up to $ annually for a 20 year term!

*View APR and other assumptions

Results based on a loan in 2nd lien position at % APR. To find out how the payment changes with different APRs, just slide the rate bar and click 'Update'.

Consolidate $ of debt with us for the low rate of % APR* for a 10-30 year term. You could save up to $ annually for a 20 year term!

*View APR and other assumptions

Consolidate $ of debt with us for the low rate of % APR* for a 10-30 year term.

*View APR and other assumptions

Unfortunately, there are no monthly savings with a 10, 15, 20 or 30 year term. However, you may still benefit by reducing the life of your loan. Here are your monthly payments for those terms:

For 10 and 15 year terms, there is no monthly savings. However, you may still benefit by reducing the life of your loan. Here are your monthly payment for those terms:

For 10 year term, there is no monthly savings. However, you may still benefit by reducing the life of your loan. Here are your monthly payment for those terms:

Results based on a loan in 2nd lien position at % APR. To find out how the payment changes with different APRs, just slide the rate bar and click 'Update'.

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We offer home equity loans from $ to $ (2nd Lien).

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Debt consolidation calculator questions & answers

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Benefits: Using your equity to pay down debt may eliminate stress and worry and put you on a solid path to financial freedom on your own terms. Plus, you might enjoy the stability of one fixed monthly payment at a fixed interest rate that's potentially much lower than what you're currently paying on multiple high-interest debts. With multiple term options, you have the flexibility to decide on a monthly payment that works for your budget.

Considerations: The relative benefits of a loan for debt consolidation depend on your individual circumstances and your actual debt payments. You will realize interest payment savings when you make monthly payments towards a new, lower interest rate loan in an amount equal to or greater than what you previously paid towards the higher rate debt(s) being consolidated. Keep in mind, though, while your monthly payments will be lower, in the long term you may pay more interest if the debt is extended over a longer period of time.

Note: No Discover Financial accounts may be paid off with this debt consolidation.

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Interactive calculators and information are intended as self-help tools for your independent use and are for educational purposes only. Results are estimates, and we cannot guarantee their accuracy or applicability to your specific circumstances.

Discover Home Loans Restrictions and Details

We do not lend in IA or MD. You are not guaranteed approval. Once you apply and submit your credit and property information, we will confirm your eligibility. We don’t lend on cooperatives, condotels, investment properties, log homes, manufactured homes, mobile homes, or secondary homes. We will only originate one 1st lien mortgage per property per 12-month period. The maximum loan amount you qualify for will depend on additional factors, including type of loan, lien position, loan-to-value and your credit history. We may change rates, program terms, and conditions without notice. Discover Card accounts may not be paid off with this home loan. All loan programs are offered by Discover Bank, 2500 Lake Cook Road, Riverwoods, IL 60015. NMLS ID 684042.