A piggyback loan is when someone takes out two loans at the same time to buy a home. The first loan covers most of the cost, and the second loan covers a smaller amount. This can help people avoid paying private mortgage insurance. Full definition
Piggyback mortgage rates: Rates are good for piggyback loans because you are getting a conventional «standard» loan for the primary financing. (themortgagereports.com)
Owner financing is a type of piggyback loan in which the second mortgage portion is carried by the home seller. (themortgagereports.com)
These were called piggyback loans and were classified as 80 / 20/0, 80 / 15/5, 80/10/10 and 80/5/15. (rismedia.com)