Sentences with phrase «called piggyback loans»

Some buyers choose to make the down payment by taking out a second loan, called a piggyback loan.

It's called a piggyback loan.

Whether your lender calls them piggyback loans or piggyback mortgages, these home equity loans or credit lines enable borrowers with low down payments to borrow more money.

Not exact matches

With an 80-10-10 loan, the primary mortgage covers 80 percent of the loan value; a second mortgage, often called a piggyback, covers 10 percent; and the other 10 percent is the down payment.

One alternative is to use a different kind of loan called a «piggyback» or «80/10/10» loan, which is basically a second loan in addition to your primary mortgage.

As home values start to pick up again, so do the number of piggyback loans, also called second mortgages.

Piggyback loans can also be used to avoid getting a jumbo loan - typically $ 417,000 and also called a conforming loan limit.

It's called a «piggyback» loan because you close on that loan at the exact time when you make the purchase.