Second Mortgage Quotes.com are specialists for 80-20 purchase loans, second mortgages, home equity loans, equity lines of credit, debt consolidation for bad credit fixed and adjustable interest rates for refinance or home purchase loans to 125%.
100% financing can be tricky, so when you are buying a home and need help with the second mortgage loan, you have friend at Second Mortgage Quotes.com ready to help you buy the house of your dreams.
These second mortgage liens have been used frequently for purchase loans. The borrower purchases the home with two loans, a first mortgage up to 80% of the purchase price, and the remaining 20% is a purchase money second mortgage used as the down payment.
Homeowners like these combination loans because they don't have to put as much money down, and the 20% second mortgage allows them to avoid PMI (private mortgage insurance).