Author Topic: piggybacking 80/10/10  (Read 409 times)

jonoliver

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piggybacking 80/10/10
« on: September 21, 2019, 03:58:11 PM »
Hello all

I poked around and didn't see MUCH discussion on getting an 80/10/10 loan, so i thought i would ask.

Has anyone gotten one before? What was the process like? Do you have to use two different lenders, or will one lender do both loans? I've also seen many times the second loan is a HELOC, but how does that work since you don't own the house yet? Or are they assuming you're coming from owning another house? We are currently renting.

Also, has anyone done LPMI before? We have good credit and if the bump in interest rate isnt too much, that seems like a simpler option.

Thanks!