80/15/5 loans are also described as combination
financing and offer a convenient way to provide creative
financing in a purchase, refinance, home improvement, or debt
consolidation transaction. In a purchase transaction, a second trust
is frequently used in combination with a first trust to avoid paying
Private Mortgage Insurance or PMI.
The first trust is always set at 80% of your purchase
price which eliminates the need for PMI. We add a second trust of
15% of the purchase price and you supply 5% cash.
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