Second mortgage capacity calculator

A second mortgage sits behind an existing first mortgage on the same property, so the room available depends on the combined LVR a second-mortgage lender is prepared to fund to — not the LVR of the first mortgage alone. Enter the property's value, the balance owing on the first mortgage, and the combined LVR cap the lender has indicated, or a figure you want to test.

Maximum combined debt applies that cap to the property value; second-mortgage room is what is left once the first mortgage is deducted, and combined LVR shows where the facility would sit once that room is drawn in full. Second-mortgage lenders are typically private lenders or non-bank lenders rather than banks, since a bank funding the first mortgage will rarely also register a second facility behind itself, and pricing is generally higher than a first mortgage to reflect the lower ranking. Existing loan terms, any consent required from the first mortgagee, and the specific property type all affect what is actually available — treat this figure as a starting point for a conversation, not a confirmed limit. It is also worth checking whether the first mortgage carries any early-exit costs or fixed-rate break fees, since these can change whether a second mortgage or a full refinance is the cheaper path overall — a principal can talk through both options once these numbers give a sense of what room is likely available.