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Are you looking to avoid paying a down payment on a home? Looking to avoid paying for Private Mortgage Insurance (PMI)? Let WindMill Mortgage Company show you how to piggyback a second mortgage onto your first mortgage so that you can finance 100% of your future home without paying your down payment out of pocket or PMI.
80/20 refers to the percentage of the value of the home for each mortgage. The first loan is for 80% of the value of the home and the second loan is for 20% (down payment) of the value of the home.
Private Mortgage Insurance (PMI) is usually mandatory for loans when the ratio of the loan amount to the value of the subject property is greater than 80 percent. You may also receive a tax deduction. Consult your tax adviser for specific information.
Advantages of using WindMill Mortgage Company 80/20 Home Loan Program:
- Reduce out of pocket expenses
- Avoid paying Private Mortgage Insurance (PMI)
- Possible tax deductions
- Combine two home loans into one simple program
