You would put down 3% in this scenario, and we would finance 97%.
The advantage to a piggy back loan over a single loan is that you don’t have to pay the private mortgage insurance that comes with conventional loans over 80% LTV.
You will be surprised how much money you can save by using piggy back financing compared to single loans with MI.
Give us a call or shoot us and email and we’ll show you how much money you can save!
Have a good day today! …and thanks for reading.
Brett
Do you need cash out of your home, but you don’t want to refinance the…
I wanted to address the two most common questions that I get regarding reverse mortgages……
Do you need cash out of your home, but you don’t want to refinance the…
Would you like to get cash out of your home, but you don't want to…
If you need cash out of your house, but don't want to touch your first…
I wanted to address the two most common questions that I get regarding reverse mortgages……