Average Interest Rate CalculatorFree online calculator to help you... This calculator is a free online calculator and figures the average interest rate you are paying for all your loans. You can input credit cards, student loans etc. and arrive at the average. 
How will this help me? With this information you can decide if it would be a good idea to combine the balances of some loans or credit cards. This can be especially helpful if you can move your higher loan balances or credit cards to lower ones or another financial instrument.Be like this person using average interest rate calculator to see if combining the balances of his credit cards will work in his favor or against him. Remember, if your plan to do this to lower your debt to income ratio (DTI), do not max out a credit card to accomplish this. That will work against you if you're trying to buy that first home. But if you are planning to be a first time home buyer in the future and want to improve your DTI, this online interest rate calculator will help you decide if combining your debt will be worth it. Especially if you can lower the amount of interest you are paying each month so you can pay off your debt faster. How to Use This Free Online Average Interest Rate CalculatorJust put the interest rate you are paying on your first credit card and the balance. Then put in the interest and the balance of the second credit card. If you have any other loan, put the interest and the balance on the third line. Now put your cursor in another box and it will calculate what the average rate you are currently paying. Note: The creditor part will not allow you to type anything but numbers in it. Now that you know what your average rate is, you can negotiate a lower rate if you choose to combine all these notes into one. If you're planning to buy a home soon, I don't recommend that you combine all your credit cards into one. Unless that combination will leave you less than 50% of the maximum allowed on the credit card. Why? Less than 50% looks like a good risk. High than that may make you look like you are not managing your credit. So use this free online average interest rate calculator to your advantage! Leave Average Interest Rate Calculator and return to Mortgage Calculators main page.
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