Combo or Piggyback Loans Are Back...

By
Mortgage and Lending with C2 Financial Corporation

A combo or piggyback loan is a great mortgage product especially with a downpayment of less then ten percent in order to avoid mortgage insurance. In terms of the loan amount they can go up to 1,275,000. Also, it can be used on a refinance for home improvement or debt consolidation purposes or to have an available credit line for future use. Typically, the second loan has an interest only option for the first ten years or a principal and interest payment. 

Best,
Shawn Sidhu

Comments (1)

Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

Shawn I did not know that there were combo loans any more

Apr 06, 2015 11:31 AM