The Zero Down 80/20 Mortgage

Home Loans

The Zero Down 80/20 Mortgage
(presented by www.refinance-refinance.net - mortgage lenders)

By Matthew Allen

This is an excellent loan for those that are lacking the down payment required for other types of mortgages.

The 80 20 mortgage is simply two loans for 100% of the purchase price. It is a first mortgage at 80% of the purchase price with a 20% second mortgage.

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HOME LOANS ADVERTISEMENT

If you are a conforming borrower, doing your loan in this manner will save you from having to pay mortgage insurance. Mortgage insurance is almost always required when you have less than 20% down. But with the 80 20 loan you avoid this necessary evil.

If you are a sub-prime borrower, doing you loan in this manner will typically keep your interest rates

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This entry was posted on Wednesday, May 17th, 2006 at 5:49 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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