80/10/10 Piggyback Loan Rates - The Piggyback Mortgage that avoids PMI

By
Mortgage and Lending with First Florida Financial Group LLC NMLS# 238609

80/10/10 Piggyback Loan - The Piggyback Mortgage that avoids PMI


What is a 80 10 10 Piggyback Second Mortgage Loan and how does it work?


A 80-10-10 Combination Loan is a piggyback loan option that allows customers to make home ownership a reality with as little as 10% down. The 80-10-10 Combination Mortgage Loan consists of a first mortgage for 80% of your home's value or sales price and a variable rate second mortgage as a piggyback loan for 10%.

What are the benefits of doing an 80-10-10 Piggyback Second Mortgage Loan?

  • It's a great way to avoid paying mortgage insurance (PMI).
  • Great option to avoid a Jumbo Mortgage and the strict underwriting and reserve requirements.
  • We use this second mortgage to get primary & second home condo and single family residence mortgage loans approved.

   

 

Eddie Hoskins

President Senior Loan Officer

877-424-4562

NMLS #238609

First Florida Financial Group, LLC

NMLS#239318

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