Piggyback mortgage

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Piggyback mortgage

A mortgaging technique used by homeowners to reduce their loan-to-value ratio and avoid the need for private mortgage insurance (PMI). Piggybacking consists of a homeowner either taking on a second mortgage as the original one is refinanced, or taking out two mortgages together. By splitting the total mortgage amount into two loans, the borrower can decrease the ratio of the amount of the mortgage to the value of the home to under 80%, the ratio floor that necessitates PMI. The downside of this method is that the second mortgage typically comes with a higher interest rate than the first mortgage. Piggybacking can also be used on certain types of loans.

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Junior Mortgage PMI private mortgage insurance senior mortgage			Fannie and Freddie will still buy piggyback mortgages (a first mortgage of up to 80% to avoid the expense of private mortgage insurance and a second covering the balance) up to their maximum loan-to-value ratios. What It Takes to Get a Mortgage Now by Pat Mertz Esswein, Associate Editor, Kiplinger's Personal Finance / Kiplinger.com For this reason, mortgage lenders are offering 80/20, or piggyback mortgage loans. No Down Payment Poor Credit Mortgage Loans ? Understanding 80/20 Loan ... by Carrie Reeder / Finance and Investment community And CitiMortgage will continue to offer piggyback mortgages. The big scramble by England, Robert Stowe / Mortgage Banking			Physical Hazard physical life physical obsolescence Physical Option Physical Verification Pianificazione centrale Piano pensionistico con contributi Piastre Piazza finanziaria PIBOR Picking Winners Pickup Pickup Bond Picos ascendentes Picos descendentes Picos maximos Picture Pie Model of Capital Structure Piece Pier piercing the corporate veil Piggy Back Registration Piggyback Piggyback Freight piggyback loan Piggyback mortgage Piggyback Registration Piggyback Warrants Piggybacking PIK Pilula de veneno Pin Risk Pineapple Pink 'Un Pink Book Pink Sheets Pip PIPE Pipe Smoker pipeline pipeline risk pipeline theory pipestem lot Piramide de riesgo Piramide financeira Piramide finanziara Piso Pit Pit Committee pitch Pitch book			Piggy Backing Piggy Backing Piggy Backing piggy bank piggy banks Piggy in the Middle Piggy in the Middle Piggy in the Middle Piggy-back Piggy-back Piggy-back Piggy-Back Loan Piggy-Back Loans Piggy-Back Registration Piggy-Back Registrations Piggy-Back Warrant Piggy-Back Warrants Piggy-Backing Piggy-Backing Piggy-Backing piggyback piggyback piggyback piggyback piggyback board piggyback device Piggyback Freight Piggyback Freights piggyback loan Piggyback Loans Piggyback mortgage piggyback plant piggyback port Piggyback registration Piggyback Registrations Piggyback Room Temperature Instrument for Astronomy piggyback twistor Piggyback Warrant Piggyback Warrants piggybacked piggybacked piggybacked piggybacked piggybacking piggybacking piggybacking piggybacking Piggybacking (disambiguation) Piggybacking (disambiguation) Piggybacking (disambiguation) piggybacks piggybacks piggybacks piggybacks Piggybank pigheaded pigheaded pigheadedly pigheadedly pigheadedness pigheadedness

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