price of homes has many borrowers searching for 100%, with a blended
mortgage option you acquire two mortgages and get the house you
mortgage combines the amount the borrower owes under an existing
mortgage with additional mortgage money required by the borrower.
The interest rate for the new amount borrowed is a "blend" of the
interest rate of the old mortgage and the interest rate for the
additional amount to be borrowed. In other words, a blended
mortgage rate is the sum of all interest payments on both mortgage
loans over the term, then that sum is divided by the sum of the
balances of both mortgage loans over the same length of term.
Mortgage Calculators - Use our mortgage calculators to calculate
a mortgage payment, compare different mortgage loan options, and
calculate how much mortgage you can afford.