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Second Mortgage Calculator

Your second home mortgage amount depends on the equity left in your home. You can calculate home equity by subtracting the balance left on your home loan and the home value. Remember that a second mortgage is a home loan on top of your any existing first mortgage.

Looking for more home loan calculators? Click here to view our Mortgage Calculator directory.

Second Mortgage Calculator

Input
Property Info
Home Value ($)
Additional Info
Annual PMI
Downpayment
Standard 80% Loan Second
Interest (%) (%) (%)
Loan Length (Yrs) (Yrs) (Yrs)
Points (%) (%) (%)
Closing Cost ($) ($) ($)
Financial Analysis
  Standard 80% Loan Second
Points Value $2,250.00 $3,000.00 $250.00
Closing Cost $1,200.00 $700.00 $1,000.00
Total Closing Cost $3,450.00 $4,950.00
Downpayment $25,000.00
Upfront Cost $28,450.00 $29,950.00
Amount Financed $222,750.00 $197,000.00 $24,750.00
Monthly Payment $1,389.67 $1,149.64 $215.60
Months with PMI 87 0 0
Monthly PMI $93.75 $0.00 $0.00
Total Monthly Payment $1,483.42 $1,365.24
Total Interest Paid $277,531.27 $230,927.70
Total PMI $8,156.25 $0.00 $0.00
Total Payments $508,437.52 $452,677.70