Residential · Calculator
Blended Rate
Weighted-average interest rate across your first mortgage, second, HELOC, or piggyback — plus a side-by-side refinance comparison.
Current Loans
Monthly P&I: $2,128.97
Monthly P&I: $417.69
Hypothetical Refinance
Beats your blended 7.278% by 0.78%
Rolled into the new loan amount.
Blended Rate
7.278%
On $360,000 across 2 loans
Today’s Combined Payment
Refinance Comparison
Frequently asked
About this calculator.
What is a blended rate?
A blended rate is the weighted average of multiple loan rates, weighted by each loan's balance. If you have a $320k first at 7% and a $40k HELOC at 9.5%, your blended rate is roughly 7.28% — not the simple average of 8.25%.
Why does the blended rate matter?
When you're deciding whether to refinance into a single loan that consolidates multiple liens, you're comparing the new single rate to your current blended rate (not just to your first mortgage rate). A 6.5% refi may look like a downgrade from a 7% first, but if you're also paying off a 9.5% HELOC, the blended math says it's a clear improvement.
Should I refinance to consolidate a HELOC?
It depends on three things: (1) how the new rate compares to your current blended rate, (2) the closing costs of the new loan, and (3) how long you plan to keep the home. The break-even months above tells you how many months of monthly savings it takes to recoup the closing costs. Less than ~36 months is usually a good signal.
Can I keep my low first mortgage and just refinance the second?
Yes — that's a stand-alone second-mortgage refinance. It's often the right move when your first is at a sub-4% rate from the 2020–2021 era. We can quote both options side by side at no cost.
Ready to compare scenarios
Refi the first, the second, or both.
In rising-rate cycles, refinancing the second only is often the smart play — keep your low first, retire the high-rate HELOC. We model all three options at no cost.
Prefer to talk first? Call (707) 583-3666