Combination Mortgage Calculator

Calculate payments for an 80-10-10 or other combination mortgage to avoid PMI.

  • Methods explained
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Home Purchase

$
10 %

First Mortgage

80 %
%

Second Mortgage

%
30 years

Loan Breakdown

Down Payment$40,000
First Mortgage$320,000
Second Mortgage$40,000

Monthly Payments

First Mortgage Payment$2,023
Second Mortgage Payment$294
Total Monthly Payment$2,316

Analysis

Blended Rate6.7%
Avoids PMIYes
How it works›

Model and assumptions. Weights each loan rate by its principal balance and compares the combined payments and costs. A balance-weighted rate is not a disclosed APR and does not capture the timing of fees or different payoff dates.CFPB: mortgage termsOpenStax: annuity formulas