Blended-rate mortgage calculator

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.
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.