80/15/5 PURCHASE...DIVIDE & CONQUER - REVISED

[Account Closed]

(REVISED POST due to someone reporting me for Self Promotion)

80/15/5s are coming back!

For those who don’t know what these programs are, these loans allow a buyer to purchase with only 5% down, no pmi (also on Jumbo purchases)

Think of the purchase as a pie, the 1st mortgage lender loans 80% of the pie on a low fixed rate, the 2nd mortgage lender steps in and helps out with the otherwise down of 15% of the pie, and the buyer only brings the final 5% of the pie as a down payment.

No PMI, No Escrows and when you Divide the purchase loan like this, you can Conquer the 2nd mtg by paying it off and you’re left with only the 1st mtg payment …and again, doing it with only 5% down and No PMI!

So on a 500k purchase, if structured correctly, its possible for a qualified borrower to only come out of pocket at closing with $25k and No PMI, No Escrows and no mortgage payment for over 50 days after closing is Very strong!

Contact your lender ask about an 80/15/5 scenario