Tag Archives: second mortgage

Calculating the difference In Cost Between PMI and 80-10-10

In order to calculate the benefit of using 80-10-10 financing as opposed to making only 10% down payment and taking a private mortgage insurance, let us take this example of a $200,000 home loan on which you make a 10% down payment. Cost with private mortgage insurance When you make only 10% down payment on […]

What is 80-10-10 Financing

80-10-10 kind of financing is quite common. This kind of financing applies for a borrower who cannot afford to make 20% down payment on his mortgage. Many people fit into this category even though they are high earning individuals. Unless you have practiced savings tactics, you could find it difficult to come up with plenty […]