Two loans, two rates — what's your real rate?
If you have a first mortgage plus a HELOC or second loan, your true cost of borrowing isn't either rate alone — it's the balance-weighted average of the two, called your blended rate. Enter both loans below and see yours instantly, then test whether combining them into one refinance would actually help.
Your loans
Enter the balance and interest rate for each loan — the results update as you type.
Loan 1First mortgage
Loan 2Second loan or HELOC
OptionalRefinance comparison
Your blended rate
Each loan pulls the average toward its own rate in proportion to its balance.
Across both loans combined.
- First mortgage —
- Second loan / HELOC —
- Total balance Combined amount owed across both loans $0
Would one refinance loan beat it?
Comparing your blended rate against the single refinance rate on the left — interest only, before closing costs.
Thinking about combining your loans?
A blended rate is only part of the picture — closing costs, loan terms, and how long you'll keep the loan all matter. Get a no-pressure comparison built around your actual numbers. No obligation, just straight answers.
Chris Borg · (503) 481-1369 · chris.borg@edgehomefinance.com
This calculator is an educational estimate only — not a loan offer, rate quote, or financial advice. The blended rate is a balance-weighted average of the rates you enter; it does not account for fees, closing costs, loan terms, or how balances change over time. The refinance comparison looks at interest only — a refinance also involves closing costs and a new loan term, which affect whether it saves you money overall. HELOC rates are often variable and can change. Talk with Chris for numbers based on your specific situation and a current rate quote.