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What is a 80/20 Mortgage?
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24th Feb 2011 by admint
An 80/20 mortgage is used when a borrower cannot afford to pay a 20% downpayment for the real estate he or she wants to purchase. It involves two loans to pay for the entire cost of the property. The 80% of the purchase price is the first mortgage and the 2nd loan is the last 20% typically paid with a downpayment.
An 80/20 mortgage is used when a borrower cannot afford to pay a 20% downpayment for the real estate he or she wants to purchase. It involves two loans to pay for the entire cost of the property. The 80% of the purchase price is the first mortgage and the 2nd loan is the last 20% typically paid with a downpayment.
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16th May 2010 In Mortgage
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Subjects: 80/20 mortgage,