Providing home loan mortgage financing in Lake, Geauga, Mahoning, Columbiana, Erie, Sandusky, Seneca, Wyandot, Putnam, Hancock, Ottowa, Fulton, Williams, Henry, Defiance, and many more Ohio counties.
Providing financing in Lucas, Cuyahoga, Lorain, Medina, Wood, Summit, Montgomery, Licking, Deleware, Warren, Hamilton, Butler, Franklin, Fairfield, Stark, Wayne, Knox and many other Ohio counties.
Providing home mortgages in Findlay, North Ridgeville, Highland Hills, Beachwood, Moreland Hills, Ashtabula, Rock Creek, Delaware, Franklin, Brunswick, Geauga, Grafton, Lorain, Green, Bath, Sandusky, Port Clinton, Huron and many other Ohio communities.
Providing mortgage financing in Cleveland, Cincinnati, Toledo, Bowling Green, Columbus, Akron, Canton, Avon, Strongsville, Avon Lake, Solon, Dayton, Medina, Wooster, Youngstown, Alliance, Mentor, Elyria and many other Ohio cities.


Blended Rates 

Blended interest rates take the total of two mortgages over a set period of time and blended rates are a weighted average of two mortgages.

There are blended rate calculators that will help you to be able to figure out your blended rates. Figuring out and knowing what your blended rate is can help you better to shop around for a good mortgage deal and compare apples to apples. If you are ever quoted a blended rate click this link to use the blended rate calculator here to verify that you are being told correct information. If you are being quoted a blended rate that is much lower than what you calculate with this calculator then I would highly advise you to work with another mortgage professional as someone is trying to pull the wool over your eyes.

Blended rates are usually calculated with a first mortgage and a second mortgage on the same property. It is usually cheaper to take a first mortgage and a second mortgage when applying for a high loan-to-value loan than to just take a single loan against the property. By blending the rate you are able to see which gives you the lowest interest rate and hence the lowest monthly payment.

To calculate the blended rate on a first and second mortgage, take the first mortgage amount times its interest rate and add the second mortgage amount times its interest rate. Divide that sum by the total mortgage amount (first + second).

Knowing your blended rate will help you greatly when comparing combo loan offers from different lenders. If you have trouble calculating your blended rate just ask your mortgage broker what it is, they should be happy to supply you with the information.

There have been important changes regarding the tax deductibility of private mortgage insurance which make comparing the blended rate of a combo loan with the interest rate of a single loan easier than ever before. Contact us at 888-418-4467 for more information.

With the combo loans becoming so popular over the last few years there are many blended rate calculators available online, but it will probably be much easier just to ask your mortgage broker/loan officer what your blended rate is instead of doing a search to find one of these calculators. Knowing your blended rate will make it much easier to compare loans between different lenders offering the same types of financing and it will also help you to compare different loan options between the same and different lenders.

Usually a combo loan will give you a combined lower monthly payment than a "blended rate" loan.


If you have any questions regarding our products, you can contact us by calling or e-mailing us and we'll get back to you as soon as possible. Thanks!



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