|
Our 80/15 interest only
first and second mortgage may be the right solution for
you. With this 95% home financing program, you can leave
your savings where they are, and still purchase a home without
paying Private Mortgage Insurance.
You simply combine one of our 80% Loan-to-Value (LTV) first
mortgages with a second mortgage for 15% LTV to achieve
95% financing. You can use this program to purchase a home,
or to refinance your current mortgage.
- More purchasing power with a lower
2nd mortgage payment
- 95% financing available without
mortgage insurance
- Greater flexibility and more control
over monthly cash flow
- Added rate security with a closed
end second
You won't
have to pay mortgage insurance!
The way to avoid paying mortgage insurance is by getting
a "piggyback loan" -- a second mortgage to back up the
first mortgage. The first and main mortgage is for 80
percent of the home's price. The piggyback loan is for
15 percent
of the home's price. If you see mention of an 80-10-10 loan,
it means that the borrower got a main mortgage of 80 percent
of a home's purchase price, a piggyback loan for 10 percent,
and made a 10-percent down payment.
About
Interest Only Loans - Pros & Cons
Combo
80/20 Mortgage Loans - Non Interest Only
All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including
FHA,
VA
and
Rural Housing
Wisconsin Refinance Illinois Refinance Programs
Current Wisconsin and Illinois Mortgage Rates
About
Ameristar Mortgage
Apply or Pre-qualify Online
Contact Ameristar Mortgage
|
