These educational calculators set out to illustrate various mortgage-related scenarios or comparisons and should not be construed as an offer to lend.

Please refer to our formal disclaimer for more information.

Click the link above to acknowledge this note and close the window.

Jay Patel

Certified Mortgage Consultant

NMLS #274709, Over 25 Yrs Exp.

(714) 970-0882

Weighted Average Interest Rate Comparisons
Use these calculators to determine the effective interest rate when using more than one loan.
Enter the Property Value or Purchase Price  
Option 1
Down Payment or Equity Position if Refi
Adjust the Loan Amounts and Rates Loan to Value Loan Amounts
  Rate   Yearly Interest
First Mortgage Loan to Value
Second Mortgage Loan to Value
Combined LTV and Loan Total
Down Payment Plus Loans (100%)  
Weighted Average Rate & Total Yearly Interest    

Sometimes, using two loans instead of one to finance your property can be a smart move:

Taking a first mortgage loan to 80% of the property value and using a second for any difference needed is a strategy often used to avoid PMI or to keep the majority of your financing at conventional limits.

However, it also pays to be aware of what the real combined rate is by properly "weighting" each loan amount and then determining the overall cost of interest. This analysis can be used to compare available options for your situation.

The information contained in these calculators and reports is for informational purposes only. The use, presentation or receipt of this information does not constitute an offer to lend, an application, a Good Faith Estimate, or estimate of fees. Where included, interest rates are subject to change at any time and are not intended to be viewed as the current market rate. Annual Percentage Rates (APRs) can also vary at any time and are presented as approximations. APRs shown here are generally calculated conservatively and may be higher than the actual current market APR, which will be determined and disclosed upon request of a formal Good Faith Estimate or upon application for financing. Every effort has been made to assure the accuracy of the information and mathematical calculations; however, the provider makes no guarantee and maintains no liability for use of or reliance upon the results. Formulation of a scenario using these tools does not mean that the results are guaranteed. All loan products have guidelines, and those rules or tolerances will vary based upon many factors, including but not limited to loan to value ratios, income, employment history, debts, assets, creditworthiness, and underwriter's review and approval.

Hide Buttons