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Updated over 1 year ago,

Renee Williams's profile image
Renee Williams's profile image
Renee Williams
  • Member since May 20, 2023
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Renee Williams's profile image
Renee Williams's profile image
Renee Williams
  • Member since May 20, 2023
Connect
Renee Williams
19
Votes |
20
Posts
First-Time Home Buyer

Disadvantages of “soft second” mortgage?

Renee Williams
Posted

Hello all, I believe I qualify for a “soft second” loan (A Soft Second Loan of 20% of the purchase price up to $55,000. Up to $5,000 for Closing Costs for a total of up to $60,000.)

    Anyone have personal experience with this type of funding? Seems almost too good to be true…. looking for any downsides and/or wondering if I’m missing anything. 

    Baton Rouge, Louisiana
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