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When wanting to finance 95% of a sales price, why would I choose an 80/15 combo over one single mortgage at 95%?

April 26, 2017Combo Finance price sales wanting

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When wanting to finance 95% of a sales price, why would I choose an 80/15 combo over one single mortgage at 95%?

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There are three main advantages to an 80/15 combo 1. Avoids private mortgage insurance 2. Lower monthly payment 3. Builds equity in property at an accelerated rate because 2nd mortgage typically has a 15 year term.