This Blended Rate Calculator helps you make smarter financial decisions about debt consolidation and refinancing options. By calculating the weighted average (or "blended") interest rate across multiple debts, you can quickly determine whether refinancing or taking out a home equity loan makes financial sense for your situation.​

Enter your current debts - For each debt, provide a description (credit card, auto loan, etc.), the outstanding balance, and the interest rate

Add additional lines if needed using the "Add Line" button

Remove any unnecessary lines with the "Remove" button

​Click "Calculate Blended Rate" to see your weighted average interest rate

​***​The calculator automatically computes the annual interest for each debt as you enter values, showing you exactly how much interest you're paying yearly on each debt.

The blended rate represents the effective interest rate you're paying across all your entered debts. This single percentage makes it easy to compare your current situation with potential refinancing options.

1. Evaluate Debt Consolidation Options
​​If your blended rate for non-mortgage debts (credit cards, personal loans, etc.) is higher than current home equity loan rates, consolidating these debts with a home equity product could save you significant money. Simply compare your calculated blended rate to today's home equity loan rates.
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​2. Decide Between Full Refinance or Second Mortgage
Enter your current mortgage in one line and your potential home equity loan terms in another. Calculate the blended rate to see if it's lower than a full cash-out refinance rate. This helps you determine whether to:
Refinance your entire mortgage (beneficial when current mortgage rates are lower than your existing rate)
Keep your first mortgage and add a second mortgage/HELOC ​(often better when current rates are higher than your existing mortgage)

Are you ready to consolidate your high-interest debts or explore refinancing options? I specialize in helping homeowners find the right mortgage and home equity solutions to save money and achieve their financial goals.

Contact me today for a personalized consultation and to learn about
​current rates that could help lower your monthly payments!