Combination Mortgage
Combination mortgage consist of first and second mortgage loan program.
Your loan amount is divided into two mortgages.
Typical programs are:
8-10-10 combination |
8-15-5 combination |
80-20 combination |
|---|---|---|
| This loan program provides you with an 80% loan-to-value first mortgage and a 10% second mortgage. You pay only 10% down. This is 90% financing. | This loan program provides you with an 80% loan-to-value first mortgage and a 15% second mortgage loan. You pay only 5% down. This is 95% financing. | This loan program provides you with an 80% loan-to-value first mortgage and a 20% second mortgage loan. You pay 0% down. This is 100% financing. |
