How do I find the average interest rate of two difference mortgages?

I Need this info to calculate:Purchase Price or Appraised Value / Equity/Down Payment Percentage / First Mortgage Interest Rate / First Mortgage Amortization (yrs) / First Mortgage Amount -AND-Second Mortgage Interest Rate / Second Mortgage Amortization (yrs) / Second Mortgage Amount

I think what you're talking about is called a "Blended Interest Rate"... if you have 2 mortgages on one property, one mortgage has one rate and balance, the other mortgagee has a different rate and balance, and you want to know what the effective blended rate is for both rates and mortgages combined. It's not hard to figure out, but will take too long on this post so here's a link to a blended rate calculator... http://www.bargaineering.com/articles/how-to-calculate-blended-interest-rates.html I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

(balance of loan 1/total mortgage balance)X interest rate of Loan 1 + (balance of loan 2/total mortgage balance)x interest rate of loan 2 = average interest rate of 2 mortgages if loan terms are equal.

I'm guessing you are trying to figure out which loan between two different options is better. We run this calculation all the time, and any good loan officer will be able to give you a "total cost analysis" which shows how each loan performs over a selected time period. If you are getting a loan in MN or WI, I'll be happy to calculate that for anyone.

What are you trying to determine? I just did a good faith worksheet for a comparison on a high balance FHA streamlineso the borrowers could view interest rate, all costs involved, lender credits towards costs, and finallyview their rate and monthly PITI payments. I am doing another for a HARP loan the same way.If you are trying to compare one lender's rate with another that is a good way to do it...two complete disclosures on rateand price.

Ms. Lanis probably figured out what you were trying to get at. If that is the case...then she candetermine it for you!