Blended-Rate Mortgage Calculator
Calculate your mortgage payment
The high price of homes has many buyers trying to get 100 percent, or near 100 percent, financing. One option is to acquire two mortgages. This blended-rate mortgage calculator helps determine the effective, or blended, interest rate if you use a first and a second mortgage to finance the purchase of a home.
Calculators provided by Bankrate.com
The Blended Rate for these Mortgages is 4.773%
| Your home purchase: Press spacebar to hide inputs | Total to finance $220,000.00 |
Report amortization:
| Loan one: Press spacebar to show inputs | Monthly payment: $1,013.37 |
| Loan two: Press spacebar to show inputs | Monthly payment: $139.84 |
| Total monthly payment $1,153.21 press spacebar to hide graph |
| Loan Balances by Year press spacebar to show graph |
Definitions
- Purchase price
- The price of the home you wish to purchase. This is the total price you'll pay for this property, including any closing costs.
- Down payment
- The total amount you have available to use towards the purchase of this property.
- Loan one amount
- The total amount that will be financed by your first mortgage. Normally, your first mortgage will carry a lower interest rate than a second mortgage.
- Loan two amount
- The total amount that will be financed by your second mortgage.
- Interest rate
- The current annual interest rate you can receive on your mortgage.
- Term
- The number of years over which you will repay the loan. The most common mortgage terms are 15 years and 30 years.
- Interest only checkbox
- Check here to indicate that this mortgage will be an interest only mortgage. We assume that your interest only mortgage will have a balloon payment for the entire balance at the end of the selected term.
- Monthly payment
- Monthly principal and interest payment for the loan. If this is an interest only mortgage, this amount will be an interest only payment.