Should I consolidate my personal debt into a new loan?

With interest rates at historical lows, it may make sense to consolidate some of your credit card and other personal debt into a new consolidated loan, typically a home-equity loan. Consolidation loans can significantly reduce your required monthly payment because they are generally amortized over 10 or 15 years. Use this debt consolidation calculator to determine how quickly you could get out of debt and how much interest you might save.

Contact Deseret First Credit Union: 801-456-7000 M-F 9 a.m.-5:30 p.m.

Consolidated Loan Information
Annual percentage rate (%) 
Number of years 
Current Debt Information
BalanceMonthly PaymentYearly Rate
Credit card 1 ($)
Credit card 2 ($)
Credit card 3 ($)
Credit card 4 ($)
Auto loan 1 ($)
Auto loan 2 ($)
Boat/RV loan ($)
Other loan 1 ($)
Other loan 2 ($)
Other loan 3 ($)
   

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

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