Sentences with phrase «using piggyback loans»

Using a piggyback loan can help you to avoid PMI (mortgage insurance) in some cases, as long as the first mortgage is under 80 % loan to value.

Other buyers will use piggyback loans because they're buying a home which exceeds their local mortgage loan limits.

Not exact matches

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.

With an increase in their 2016 mortgage loan limits, more of today's home buyers can use low - downpayment mortgage programs such as the Conventional 97 program, as well as the 80/10/10 piggyback loan.

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

But it's not the only reason; some people use piggybacks to pay for a home a conventional mortgage wouldn't cover, essentially avoiding jumbo loans.