What Is a 80 20 Mortgage Loan?


The 80 20 mortgage is two loans amounting to 100% of the purchase price. There is a first mortgage of 80% of your purchase price and a 20% second mortgage that is usually the required down payment though it is covered by the loan. This type of loan is rarely offered by the banking sector.
Q&A Related to "What Is a 80 20 Mortgage Loan"
An 80/20 mortgage is actually two mortgages. The primary mortgage, also called the first mortgage, is for 80 percent of the purchase price of the home; the secondary mortgage, also
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This question cannot be asked in a vaccuum. The answer depends on what's best for each individual depending on their particular circumstances and other numerous variables.
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Ask.com Answer for: what is a 80 20 mortgage loan
What Is an 80/20 Mortgage Loan?
If you do not have enough money to provide a 20 percent down payment when purchasing a home, and you do not have access to a mortgage guarantee which will lower your down payment requirement, an 80/20 mortgage can help you avoid private mortgage... More »
Difficulty: Easy
Source: www.ehow.com
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