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Our 80/10 interest only
first and second mortgage may be the right solution for
you. With this 90% home financing program, you can leave
your savings where they are, and still purchase a home without
paying Private Mortgage Insurance.
You simply combine one of our 80% Loan-to-Value (LTV) first
mortgages with a second mortgage for 10% LTV to achieve
90% financing. You can use this program to purchase a home,
or to refinance your current mortgage.
- More purchasing power with a lower
2nd mortgage payment
- 90% financing available
without mortgage insurance
- Greater flexibility and more control
over monthly cash flow
- Added rate security with a closed
end second
You won't
have to pay mortgage insurance!
The way to avoid paying mortgage insurance
is by getting a "piggyback loan" -- a second mortgage to
back up the first mortgage. The first and main mortgage
is for 80 percent of the home's price. The piggyback loan
is for 10 percent of the home's price. If you see mention
of an 80-10-10 loan, it means that the borrower got a main
mortgage of 80 percent of a home's purchase price, a piggyback
loan for 10 percent, and made a 10-percent down payment.
About
Interest Only Loans - Pros & Cons
Combo
80/10 Mortgage Loans - Non Interest Only
All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including
FHA,
VA
and
Rural Housing
Wisconsin Refinance Illinois Refinance Programs
Current Wisconsin and Illinois Mortgage Rates
About
Us
Apply or Pre-qualify Online
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