Piggyback Loan - Piggyback loans get their name from a second mortgage that is "piggybacked" onto a first mortgage .Piggybacks are particularly popular in high-cost areas where prices have skyrocketed beyond the reach of incomes and borrowers are increasingly using the loans to stretch to purchase properties.
Piggyback loans also know as combo loans or 80/20's help borrowers avoid private mortgage insurance.
There are different types of 100% loans. You can
either get 1 loan for 100% or an "80/20" loan. Speak to your mortgage
professional to see which program is best for you!
