Second Mortgage Payment Calculator
Combined payment for a first and second mortgage.
Enter your values
ⓘ Live results
Results
- Second mortgage payment
- $507.13
- Combined LTV (CLTV)
- 78.57%
- Total interest on second
- $41,283.99
- Total combined debt
- $330,000.00
Quick answer
A second mortgage's payment is a standard amortizing calculation, but combined with the first mortgage it raises your total monthly debt and combined loan-to-value ratio.
CLTV = (first balance + second balance) / home value
How to use the Second Mortgage Payment Calculator
- 1Enter the second mortgage amount, rate and term.
- 2Enter your first mortgage balance and current home value.
- 3Check the combined loan-to-value ratio, which lenders cap (often around 80-90%).
Worked example
Using the values the calculator loads with:
Inputs
- Second mortgage amount50000 $
- Second mortgage rate9 % APR
- Term15 years
- First mortgage balance280000 $
- Home value420000 $
Results
- Second mortgage payment$507.13
- Combined LTV (CLTV)78.57%
- Total interest on second$41,283.99
- Total combined debt$330,000.00
Frequently asked questions
Second mortgage or HELOC?
A second mortgage gives a fixed lump sum and payment; a HELOC is a revolving line, often with a variable rate.
Why does CLTV matter?
It measures total leverage against your home and determines eligibility, since lenders limit how much equity can be borrowed against.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.