Piggyback Mortgage Benefits

Two mortgage loans are better than one! Our Piggyback Mortgage is ideal for borrowers who don’t have the required 20% down payment but want to avoid purchasing private mortgage insurance (PMI). This mortgage type is a second loan which is opened at the same time as the first mortgage. The first loan is typically a traditional mortgage with an 80% loan-to-value ratio (LTV), while the second loan can come from the same lender or a different lender to make up the difference between the down payment and the traditional mortgage.

  1. Lower down payment options
  2. Avoid private mortgage insurance (PMI)
  3. Tax benefits
  4. Available with most conventional loan