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Blended Rate Calculator

A blended rate combines two or more interest rates (like a first and second mortgage, or multiple loans) into a single weighted-average rate — useful for comparing your true overall cost against a new refinance offer.

FINANCE & INVESTING · CALCULATOR

Blended Rate Calculator

Total Balance $0.00
Blended Rate 0.00%

How to Use the Blended Rate Calculator

  1. Enter the interest rate and balance/amount for your first loan or rate.
  2. Enter the same for your second loan or rate.
  3. Add a third if you have one (e.g., combining a first mortgage, second mortgage, and HELOC).
  4. Click "Calculate Blended Rate" to see your weighted-average rate.

How the Blended Rate Is Calculated

A blended rate is a weighted average — larger balances influence the result more than smaller ones. The formula is:

Blended Rate = Σ(Rate × Balance) ÷ Σ(Balance)

This means simply averaging your rates (adding them and dividing by the count) would be inaccurate if your balances are different sizes — the blended rate formula correctly weights each rate by how much money it applies to.

Frequently Asked Questions

Why calculate a blended rate?
It's commonly used to compare your true overall borrowing cost across multiple loans (like a first and second mortgage) against a single refinance rate offer, to see if consolidating actually saves money.

Is a lower blended rate always better?
Not necessarily — refinancing to consolidate loans may involve closing costs, different loan terms, or loss of favorable terms on an existing loan. Compare total costs, not just the rate.

Can I use this for credit cards instead of mortgages?
Yes — the same weighted-average logic applies to any combination of rates and balances, including credit cards or personal loans.

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Disclaimer: This calculator provides general estimates for comparison purposes only and does not account for fees, closing costs, or changes in loan terms. Consult a licensed financial advisor or lender before making refinancing or consolidation decisions.

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