Sentences with phrase «common piggyback loan»
The most common piggyback loan is the 80-10-10 — the first mortgage is for 80 % of the home's value, a down payment of 10 % is paid by the buyer, and the other 10 % is financed in a second trust loan at a higher interest rate.
https://www.valuepenguin.com/ Not exact matches
The most common options are tapping into the resources of your extended family, siphoning funds from a retirement account, and a piggyback loan.
Taking out two mortgages on the same house simultaneously may sound like a bad idea at first glance, but «piggyback loans» are a common way to make a smaller down payment or avoid paying mortgage insurance.