What's your Life Rate?
The short answer
Your Life Rate is the blended interest rate on everything you owe: your mortgage plus credit cards, car loans, and solar or PACE liens. A low mortgage rate can hide a much higher real cost. Enter your balances and rates below to see yours; The Mortgage Advisory can then show you how to lower it.
How is it calculated?
Life Rate = (total yearly interest ÷ total debt) × 100. Each balance is multiplied by its rate to get its yearly interest; add those up and divide by everything you owe. It's a simple estimate: it doesn't include fees, and rates on cards and some loans can change.
Want the full story? Read what your Life Rate is and why it matters and HELOC or cash-out refinance: which is better?
