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What Are My Payments With A First And Second Mortgage?
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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.
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Your 1st mortgage payment
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$899.33
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Your 2nd mortgage payment
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$224.93
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Total mortgage payments
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$1,124.26
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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.
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