Run the numbers on a purchase, refinance, home equity loan, or debt consolidation.
Combine your mortgage, HELOC and other debts into one rate and compare it with a cash-out refinance.
Blended rate
3.786%
Total balance
$350,000
Cash-out rate
6.500%
Your blended rate is 2.714% lower than a cash-out refinance at 6.500%. Keeping your first mortgage and adding a home equity loan or HELOC may cost less than refinancing everything.
The blended rate is the balance-weighted average of your rates. It doesn't account for different terms, closing costs or variable HELOC rates.
* This estimate is provided for illustrative and informational purposes only and does not constitute a loan approval or commitment to lend. Actual rate, APR, and payment will depend on your credit profile, loan program, and market conditions at the time of rate lock. 1st 2nd Mortgage Co. of N.J., Inc. — NMLS # 115981.