RatesIQ.com

Mortgage Calculators

What Are My Payments With A First And Second Mortgage?

This mortgage payment calculator will combine two loan payments (such as a 1st & 2nd) into one monthly payment. It will also estimate your "blended rate". This is a sum of the interest of both payments, divided by the total loan balance. The blended rate is not a perfect measure, but it is a useful tool to gauger how both mortgages compare to a single loan.

Note: We highly recommend that you seek a qualified loan consultant before actually selecting a loan.

Loan amount of 1st	?
Interest rate of 1st	?
Term of 1st (usually 30 or 15 years)	?
Loan amount of 2nd	?
Interest rate of 2nd	?
Term of 2nd (usually 15 or 20 years)	?
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Your 1st mortgage payment	?	$899.33
Your 2nd mortgage payment	?	$224.93
Total mortgage payments	?	$1,124.26

Since you have two loans with two different interest rates, you will also have what is called a blended (or effective) interest rate which is 6.43% If this rate is too high, you can consider refinancing to save money.