increased rates: How to Calculate a "Blended Average" for Interest Rates - 01/25/19 12:42 PM

 
When determining whether to refinance multiple loans, a "Blended Average" (aka "Weighted Average") between interest rates is a great place to start.  Oftentimes, Homeowners fall in love with their 1st Mortgage, but turn a blind eye to the interest rate on their 2nd mortgage and/or credit cards when considering a debt consolidation mortgage refinance. 
 
 
A simple example is as follows:
1st Mortgage $200,000 balance 4.000% Interest Rate 2nd Mortgage $200,000 balance 8.000% Interest Rate  
In looking at the above scenario, we can easily calculate that the Blended Average Interest Rate (aka Weighted Average Interest Rate) is actually 6.000%.  Therefore if current market … (1 comments)

 
Jason E. Gordon, Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE (CMG Mortgage, San Diego, CA)

Jason E. Gordon

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

San Diego, CA

More about me…

CMG Mortgage, San Diego, CA

Address: 11440 W. Bernardo Court, Ste. 300, San Diego, California, 92127

Mobile: 619-200-8031

Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon

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