Mortgage Piggyback Calculator
Two Mortgages Versus One Larger Mortgage
Who This Calculator is For: Borrowers trying to decide whether they should take
a second mortgage, either to avoid mortgage insurance or to avoid the
higher interest rate on a jumbo as opposed to a conforming loan amount.
What This Calculator Does:This calculator compares the total cost of a combination
first mortgage plus a second mortgage to that of a larger first
mortgage on which the borrower pays either mortgage insurance
or a higher interest rate, over a specified future period. It also shows
the highest rate you can pay on the second to break even.