What Is a Mortgage Combo Loans?

Answer

A mortgage combo loan refers to the combination of the first and second mortgage into a single loan. However, this definition is slowly changing and some financial companies use it to refer to the combination of loans to cover a home mortgage and another debt. A mortgage combo loan is also referred to as a piggyback loan.
Q&A Related to "What Is a Mortgage Combo Loans"
The combo mortgage is made up of two mortgage loans that are used in concert in either a purchase or a refinance transaction. Both loans are recorded against the same property with
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A jumbo mortgage loan is generally one which is over the threshold of three hundred thousand dollars. It is known as a jumbo loan because it is for so much money.
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Mortgage points are used for several purposes in the mortgage origination process. In dollar terms, each point is equal to 1 percent or percentage point of the loan amount. If the
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1. Decide what types of services you will offer. This can include establishing escrow accounts, collecting monthly mortgage payments, assessing late fees and following up when borrowers
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A combo loan is a kind of mortgage loan where a combination of two loans is used versus one large loan. It is usually used to save money on an individual's monthly ...
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