piggyback mortgage: 80/10/10 Loan (Piggyback Mortgage) Is Back
- 12/27/12 02:36 PM
If you have only 10% downpayment and still wish to eliminate private mortgage insurance (PMI), we have the right solution for you – 80/10/10 loan (also called Piggyback loans). Yes, it’s back and this post will give you all the details you need to know. How does a 80/10/10 loan work? Usually a 2nd mortgage or a Home Equity Line of Credit (HELOC) is offered up to 90% of the home value. Such kind of loans are popularly known as 80/10/10 loans, where the first mortgage is 80 percent of the home value, second mortgage or HELOC is 10 percent and the (1 comments)