Our 80/5 interest only first and second mortgage may be the right solution for you. With this 85% 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 5% LTV to achieve 85% 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
• Up to 85% financing available without mortgage insurance
• Greater flexibility and more control over monthly cash flow

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 5 percent of the home's price. If you see mention of an 80-5 loan, it means that the borrower got a main mortgage of 80 percent of a home's purchase price, a piggyback loan for 5 percent, and made a 5-percent down payment.

About Interest Only Loans - Pros & Cons
Combo 80/5 Mortgage Loans - Non Interest Only

All Mortgage Programs
50% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including FHA, VA and Rural Housing
Refinance Programs

Current Mortgage Rates
About Us
Apply or Pre-qualify Online
Contact Us