Second Mortgage Payment Calculator
Combined payment for a first and second mortgage.
Enter your values
Enter the second mortgage amount in $.
Enter the second mortgage rate in % APR.
Enter the term in years.
Enter the first mortgage balance in $.
Enter the home value in $.
Results update instantly as you type — no submit needed. Your values are remembered on this device, and the shareable link reopens the calculator with exactly these numbers.
- Second mortgage payment
- $507.13
- Combined LTV (CLTV)
- 78.57%
- Total interest on second
- $41,283.99
- Total combined debt
- $330,000.00
Quick answer
A second mortgage's payment is a standard amortizing calculation, but combined with the first mortgage it raises your total monthly debt and combined loan-to-value ratio.
CLTV = (first balance + second balance) / home value
At a glance
| What it does | Combined payment for a first and second mortgage. |
|---|---|
| Category | Real Estate |
| Inputs needed | Second mortgage amount, Second mortgage rate, Term, First mortgage balance, Home value |
| Main output | Second mortgage payment |
| Formula | CLTV = (first balance + second balance) / home value |
| Cost | Free — no sign-up, no download |
How to use the Second Mortgage Payment Calculator
- 1Enter the second mortgage amount, rate and term.
- 2Enter your first mortgage balance and current home value.
- 3Check the combined loan-to-value ratio, which lenders cap (often around 80-90%).
Inputs explained
- Second mortgage amount($)
- Enter the second mortgage amount in $.
- Second mortgage rate(% APR)
- Enter the second mortgage rate in % APR.
- Term(years)
- Enter the term in years.
- First mortgage balance($)
- Enter the first mortgage balance in $.
- Home value($)
- Enter the home value in $.
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.
What do I need to enter into the Second Mortgage Payment Calculator?
Just 5 values: second mortgage amount, second mortgage rate, term, first mortgage balance, home value. Every field starts with a realistic example, so you can change one number at a time and watch the result update instantly.
How does the Second Mortgage Payment Calculator work out the 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. It applies the formula CLTV = (first balance + second balance) / home value and shows the working so you can check each step by hand.
Is the Second Mortgage Payment Calculator free, and do I need an account?
It is completely free with no sign-up, no download and no usage limit. Everything is calculated in your browser, so the numbers you type never leave your device.
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.