 I heard its a way to get a morgage with less than subprime credit, anybody heard of it? |
Additional Details
i heard with these mortagages u have to refinance in 2yrs or lose your house. the loan is based on the property value and if the bank is likely to make a profit in 2 ... |
|
 Are home inspectors often wrong? |
| We're selling our house & have an offer & today we had a home inspection. We bought our house from the builder & it's only 3 1/2 years old & we keep it in top shape! A... |
|
| Can my landlord increase my rent before my lease is up for renewal? |
Additional Details
There was a "lower rent" discount that I was receiving and the landlord got rid of it because supposely he got audited and this discount is not suppose to ... |
|
 What does not in a...? |
Subdivision mean when looking at house for sale?
Additional Details
is it a good are a bad thing?... |
|
 Im 3 months behind on my morgage. i tried to refinance and sell but no.cant afford house, just want out, how? |
| i have an 80/20 loan on my house. i am 3 months behind on 1 and 2 on the other. i have tried to sell and i cant get what i need to pay off the house and i dont have any extra money to pay off the ... |
|
 Any ideas - Problem Neighbour? |
Myself and my fiance have been living in our current house since july last year. We rent it from Leaders.
During our first viewing of the property, the neighbour took the leaders ... |
|
 Apartment maintenance problems...what can I do??? |
| Ok, so for the last 4 to 5 months our air conditioner has not been cooling properly. The maintenance guy came and attempted to fix it but couldn't figure it out. He then promised to order a new ... |
|
 Please help me, im so mad and scared about this pls help? |
| k my mom and dad got divorced and now because my dad refinanced on the house 2 times the house payment is 1500 a month!! so now the bank will take our house away in august if we cant pay the bills or ... |
|
| Mortgage - If Bank Goes Under What Happens To Borrower? |
If your Mortgage Lender Defaults what will happen to the borrower?
Ok, They will try to sell your loan. Can they demand payment in full (call the loan?) Are there any legal protections ... |
|
 How do you buy a piece of land when it is for sale by owner? |
| How do you go about buying property when it is being sold without a realtor. What do you do and how do things get organized (ex. the closing etc...) Also do you have to pay tax on the property when ... |
|
 Please solve? |
| A real estate agent received a 6% commission on the sale of a home. If the home sold for $596,000, how much was his commission?... |
|
 Who is responsible for a loss rent money order the renter are landlord? |
| the renter are late more then once now they say that the money order was lost and can't pay their rent until Jan 2 ,the law says that you have to wait 3 months to put them out ,rent was due on D... |
|
 Should a real estate broker charge for a home price appraisal? |
| They are not wanting to sell their home, but they are interested to see what there home is worth. Do I charge? Normally, if someone comes and wants to sell there home, I go in and tell them what a ... |
|
 What is the better choice? All opinions appreciated please!!? |
| I asked this yesterday, but I guess I did not explain it well enough to get the answers I wanted. My husband & I are a military family. We have 2 kids aged 4 and 1. We live on a post, but have ... |
|
|  |
areyou4me_80 | What does 80/20 mean in mortgage terms? |
I SEE PEOPLE TALK ABOUT 80/20 IN MORTGAGE TERMS WHAT DOES IT MEAN? AND HOW DOES IT WORK? |
 |
 
Realness
|
It means loan to value ratio.ie: 100% is the total loan then you have 80% of it is borrowed and 20% is a downpayment. |
|
don_lbsim
 |
You don’t need a down payment to buy the investment of a lifetime.
If you have good credit, you can finance the entire purchase price of new home using 80/20 financing option.
This option sets up two loans to finance 100% of your new home’s purchase price:
A first mortgage loan for 80% of the home’s value
A secondary home equity loan or line of credit for the remaining 20%
With the 80/20 option, you may be able to avoid paying private mortgage insurance (PMI), which is usually required on primary loans that exceed 80% of the property’s value. And you can still select from a wide array of financing options for the first mortgage, including fixed-rate and adjustable-rate mortgages.
hope that answers to ur question!! |
|
mortgage help
 |
It's 100% financing broken into 2 loans so you avoid mortgage insurance. 80% first mortgage, 20% second mortgage. |
|
satarnag
 |
It means that you're doing 100% financing with one loan at 80% loan to value and another loan at 20% loan to value. It's one way to avoid paying PMI.
Regards |
|
HomesByDamon.com
 |
It's a 0% down payment loan program, whereby you have a 1st mortgage of 80% of the home's value and a 2nd mortgage for 20% of the homes value. Eg,
Value = $100,000
1st loan = $80,000
2nd loan = $20,000
You will also see loans structured as 80/15/05 and 80/10/10. The 80/15/5 refers to a1st loan of 80%, a 2nd loan of 15%, and then 5% down, and the 80/10/10 refers to a 80% 1st loan, a 10% 2nd loan, and 10% down payment.
All three of these loans are structured to avoid paying PMI, however, it's important to note the pendulum has started to swing back towards paying pmi because the rates on 2nd mortgages have gone up considerably, and legislation was just passed to make pmi tax deductible.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Whoever the person was that gave me the "thumbs down", I'd love to hear where you found something wrong with my answer. Send me an email at damon@homesbydamon.com. Thanks. |
|
Martini Babee
|
It's actually financing 100% of the purchase price by providing two loans. The first loan is based on 80% of the purchase price, while the second loan is based on 20% of the purchase price. Thus the 80/20 Combo. 80% 1st mortgage / 20% 2nd mortgage. |
|
JNC
 |
20% as down payment, borrow 80%. This way you have equity in your home, which is your down payment. It gives security to the lender that you won't default if market tanks. This is the traditional method to get a loan in buying a home... besides paying all cash. |
|
bpl
 |
It refers to the percentage that the borrower puts down (20%), and the percentage borrowed of the total purchase price (80%). |
|
alcontch
|
If I am not mistaken, it is 80% of the appraisal value with 20% down payment. So if the appraisal is for $100,000. You could borrow $80,000 with a down payment of $20,000. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 38 minutes(s) ago
| | | |
9 | 2 hour(s) ago
| | | |
9 | 5 hour(s) ago
| | | |
9 | 10 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 3 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
9 | 2 month(s) ago
| | | |
9 | 4 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
