Blended Rate Calculator
Calculate the weighted-average interest rate across multiple loans
Frequently Asked Questions
Blended rate = the sum of (each loan's balance × its interest rate) ÷ the sum of all balances. It's a balance-weighted average — loans with bigger balances count for more than small ones, unlike a simple average of the rates alone.
Common uses: comparing your combined mortgage-plus-HELOC rate to a new refinance offer, seeing your true overall rate across multiple credit cards or student loans, or evaluating a second mortgage's effect on your overall borrowing cost.
No — blended rate is just a weighted average of nominal interest rates across multiple debts. APR includes fees and compounding effects on a single loan. You can calculate a blended rate using either nominal rates or APRs as the inputs, but the two concepts serve different purposes.
If you're considering consolidating or refinancing several debts into one new loan, comparing your current blended rate to the new loan's rate is the most direct like-for-like way to see whether the new loan is actually cheaper overall.
No — this calculator blends only the interest rates you enter, weighted by balance. It doesn't account for origination fees, points, closing costs, or other differences between APR and nominal rate on any of the loans, so a true side-by-side cost comparison should also factor those in separately.