We would like to remind our members that TowneBank will be closed on Monday, May 28th, in observance of Memorial Day. Thank you for choosing TowneBank!

Close Closing Message

Blended Rate Mortgage Calculator

The high price of homes has many buyers trying to get 100% or near 100% financing. One option is to acquire two mortgages. This calculator helps you determine the effective, or blended, interest rate you would pay if you use a first and a second mortgage to finance the purchase of your home.

Financial Calculators ©1998-2015 KJE Computer Solutions, LLC

The Blended Rate for these Mortgages is 4.773%
Report amortization:
Please view the report to see detailed results in tabular form.
Please view the report to see detailed results in tabular form.


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.
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.

The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.