80/20 Loan
Mortgage Library: Ask a Mortgage Related Question: Answers: 80/20 Loan
Question:
What exactly is a 80/20 loan for a mortgage on a house? Answer: An 80/20 loan is a combination loan for 100% financing (no down payment). With this type of mortgage, you would actually have
two loans -- one for 80% of the purchase price and one for 20% of the purchase price. Sometimes payments on both loans are made to the same lender, sometimes
different lenders. |
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