80/10/10-Piggy Back Mortgage

7-11 Posted: May 19, 2005 10:16 AM

80/10/10-Piggy Back Mortgage

I am planning on looking into these. Do all lenders do this? If you have one can you tell me who you financed with.

thanks!

sophie78 Posted: May 19, 2005 10:21 AM

Re: 80/10/10-Piggy Back Mortgage

We got ours thru Chase

Jordan Posted: May 19, 2005 10:23 AM

Re: 80/10/10-Piggy Back Mortgage

We're working with Greenpoint bank.

NPbride Posted: May 19, 2005 10:28 AM

Re: 80/10/10-Piggy Back Mortgage

We went through Bank of NY.

TracyInQueens Posted: May 19, 2005 10:41 AM

Re: 80/10/10-Piggy Back Mortgage

We did ours through GMAC Mortgage.

Most banks do this though my credit union did not. (Municipal Credit Union)

MCDO15 Posted: May 19, 2005 11:04 AM

Re: 80/10/10-Piggy Back Mortgage

if you contact a broker, they will know of various lenders to accomadate your needs

7-11 Posted: May 19, 2005 11:36 AM

Re: 80/10/10-Piggy Back Mortgage

how do brokers work? they find the best mortgage for you? Do you pay them as well as the bank? Does someone have one the recommend?

sorry, i know i have lots of questions. I am very new at this!

DjPiLL Posted: May 19, 2005 12:22 PM

Re: 80/10/10-Piggy Back Mortgage

Most mortgage brokers are paid by the lender at closing. there should be no out of pocket expense for you.

But check on it to make sure.

corinne7477 Posted: May 19, 2005 12:47 PM

Re: 80/10/10-Piggy Back Mortgage

i have mine with citimortgage its called an 80/20 split also 80 in mtg, 10 in home equity and 10 down payment.

Kelly9904 Posted: May 19, 2005 01:11 PM

Re: 80/10/10-Piggy Back Mortgage

I am not sure that Credit Unions do. We have our mortgage through Bethpage CU and it was not even an option, we had to put 20% down. But I am not 100% sure if they offer this because we never asked!