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    DEBT CONSOLIDATION CALCULATOR

    See how debt consolidation can help lower your monthly payment.

    Our debt consolidation calculator shows how much you might be able to save by combining debts into one low-interest monthly payment. Debts to consider consolidating include credit cards, auto, medical debt, personal loans and more.

    Discover does not offer home equity loans under $35,000. Visit Discover Personal Loans for loans in this range.

    Required fields are marked with an asterisk

    APR:

    My Payment: /mo

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    + Add a debt (up to 9)

    Note: Information and interactive calculators are made available as self-help tools for your independent use and are intended for educational purposes only. Any results are estimates and we do not guarantee their applicability or accuracy to your specific circumstances.

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    Question answer section

    Q Question

    What are the benefits and considerations of debt consolidation?

    A Answer

    Benefits: Using your equity to pay down debt can eliminate stress and worry and put you on a solid path to financial freedom on your own terms. Plus, you'll enjoy the stability of one fixed monthly payment at a fixed interest rate that's probably much lower than what you're currently paying to multiple creditors. With multiple term options, you can choose to save more or save less in interest based on the monthly payment you can afford.

    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 the 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.

    DEBT CONSOLIDATION CALCULATOR

    Consolidate $ of debt with us for the low rate of % APR* for 10-30 year terms You could save up to 2,880 annually for a 20 year term.

    *View APR and other assumptionsopens modal dialog

    Unfortunately, there are no monthly savings with a 10, 12, 15 or 20 year term. However, you may still benefit by reducing the life of your loan. Here are your monthly payment for those terms:

    Monthly payment with Discover

    Monthly savings

    Annual savings

    10 yr term:

    15 yr term:

    20 yr term:

    30 yr term:

    Your current monthly payment:

    Your current monthly payment

    For , 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:

    10 yr term:

    15 yr term:

    Results based on a loan in 2nd lien position at 5.24% APR.

    To find out how your payment changes with different APRs, just slide the rate bar and click 'Update'.

    Minimum APR%

    Maximum APR%

    UpdateConsolidated Debt

    Note: Information and interactive calculators are made available as self-help tools for your independent use and are intended for educational purposes only. Any results are estimates and we do not guarantee their applicability or accuracy to your specific circumstances.

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    Questions? There's no commitment required to get a quote and start talking.

    Benefits and risks of debt consolidation:

    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 the 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 loans may be paid off with this debt consolidation.

    DEBT CONSOLIDATION CALCULATOR

    Sorry!We offer home equity loans from $35,000 to $300,000.

    Questions? Give us a call at 1-855-361-3435.

    We're here Monday through Friday 8am–10pm ET. Or you can share a little about yourself and we'll get back to you with a no-obligation quote.

    Get a Quote
    Questions? There's no commitment required to get a quote and start talking.

    RELATED RESOURCES

    Learn if debt consolidation is right for you.

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    Using Home Equity to Pay Off Debt - Discover Home Loans Learn the pros and cons of using a home equity loan to pay off your debt with Discover Home Loans.

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    How much home equity do you need to consolidate your debt?

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    Assumptions and considerations

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    • Any potential savings on monthly payment are estimates. Estimated savings are calculated by aggregating the total dollar amount of your existing monthly payments and comparing to estimated monthly payment for a new Discover Home loan.
    • In calculating any potential savings we assume that the monthly payments you entered for your existing debts meets or exceeds the minimum payment required for that account and that you pay this amount each month.
    • If you did not enter a fixed payment for a debt, we estimated the minimum payment as 2.5% of your outstanding balance with a minimum of $15. If your required minimum payment is higher than our estimate, your potential monthly payment savings will be reduced.
    • The APR will be between % APR and % APR for first liens and % APR and % APR for second liens based on loan amount and a review of credit-worthiness, including income and property information, at the time of application. The lowest APRs are available to borrowers requesting at least for second liens or for first liens, with the best credit and other factors. Loan amounts available from to .
      Note: No Discover Financial accounts may be paid off with this debt consolidation.