Company Marketcap

Combination Mortgage Calculator

Enter the purchase and loans

$
% of price
% of price

–

Combination: first and second mortgage

%
%

The second mortgage is treated as a fixed-rate loan repaid over its term.

Single loan with PMI

%

Loans above 80% of the price often carry a slightly higher rate.

% / yr

Of the loan amount. Depends on your credit score and down payment.

years

How long you expect to keep the loans before selling or refinancing.

More options
$

Extra fees for taking out a second loan.

Based on the original payment schedule. By law PMI also ends at the loan's midpoint.

Combination vs single loan

Difference over 10 years

–

Combination payment

–

Single loan payment with PMI

–

PMI stops after

–

–

CombinationSingle loan

Year-by-year comparison

Payments include PMI on the single loan. Cost is interest plus PMI and second-mortgage fees, to the end of each year.

YearCombination: paid in yearCombination: owedSingle: paid in yearSingle: owedSingle loan costs more by

Results are estimates for educational purposes and are not financial, tax or legal advice.

Compare a piggyback loan, a first mortgage plus a second mortgage that avoids PMI, with one larger loan that carries PMI. See which costs less over the years you plan to keep it. Try the amortization calculator online to run your own numbers — everything is calculated in your browser and nothing you enter is stored or sent anywhere.