80/10/10 Loan

80/10/10 loan example. Betty found her dream home on Long Island, and reached a deal to purchase the home for $300,000. Her first mortgage was for $240,000, or 80 percent of the $300,000 price, at.

These mortgage loans have a rate and monthly payment that stay the same. 80 % Loan To Value up to .5 million.. combination loans (80/10/10).

What is an 80/10/10 mortgage loan is a question that easily comes up to the borrower’s mind. This is basically a creative way to avoid paying a PMI – private mortgage insurance, and a convenient way to purchase or refinance or consolidate debt, employing the benefits of combining a first and a second mortgage or trust.

An 80 10 10 loan is a mortgage option in which a home buyer receives a first and second mortgage simultaneously, covering 90% of the home’s purchase price. The buyer puts just 10% down. This loan type is also known as a piggyback mortgage.

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80/10/10 Loan (or 80/15/5) with 2nd Mortgage and no PMI For. – But with an 80/10/10 loan, you can buy an $875,000 house by putting down only 10%. The first loan is not exactly 80% of the home value, but the program still works to help you buy a house like this with only 10% down.

An 80-10-10 loan lets you buy a home with two mortgages for 90% of the purchase price plus a 10% down payment. Also called piggyback loans, 80-10- 10.

In this article: A piggyback loan is a type of mortgage structure in which a first and second mortgage are opened at the same time; This structure.

PMI with only 10% – San francisco-based lender sofi advertises home mortgages with a 10% down payment and no PMI – private mortgage.

A piggyback 80-10-10 mortgage can save you money compared to PMI or FHA. Here's how to qualify.

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Logix mortgage loans are available in the following states: AZ, CA, DC, ME, MD, MA NH, NV, and VA. The 80/10/10 mortgage loan is available on purchase transactions of owner-occupied, primary residence, single family homes, condominiums, PUDs, and townhomes only.

Piggyback Loans – Mortgage Lenders, Programs & Requirements. – 80/10/10 Piggyback Loan – This is the most common type of piggyback loan. How a 80/10/10 loan works is a first mortgage covers the first 80% of the loan. · The 80/10/10 mortgage is widely-available and buyers are using it to avoid PMI; and, to buy homes more cheaply.