Piggy back Loans for a 20 percent down payment

[Tanner Kenneth Jenkins]

Hey guys, I'm an aspiring investor looking to get a triplex in six months. I have enough for 10 percent down but am wanting to avoid mortgage insurance on an FHA loan. With mortgage insurance the numbers just don't add up. All my analyses are negative for all these properties I am looking at. Who has experience with piggy back loans for their down payment and can walk me through their numbers? Thanks so much. I love this website!

[Jeff Shumway]

The mortgage insurance is 1.75% of the loan amount due at closing. This is rolled into your loan amount, so it's not anything additional due at closing. Below is the chart showing how much in mortgage insurance you will pay, depending on down payment and loan term.