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80-10 Home Purchase Mortgage
Nationwide Mortgage Loans offers many fixed rate home purchase loan programs. The 80-10 home purchase is a 10 down-payment, 80% first mortgage and a 10% second mortgage that work together so you don't have to come up with a 20% down-payment. Don't let savings get in the way of you purchasing your dream home.
Full Documentation or Stated Income Options: Apply Now We offer 30 or 40 year fixed rate home purchase mortgages that ensure a fixed interest rate that is fixed for the entire term of the loan. In addition, Nationwide offers home equity, second mortgage and refinance loans with a fixed or adjustable interest rates.
$400,000 Purchase Price - 80-10 Payment Example:
$360,000 First Mortgage 30 Year Fixed at 6%
360 Monthly Payments at $ 2,158.38
$ 40,000 Second Mortgage 30 Year Fixed at 8%
360 Monthly Payments at $ 587.01
With the 80-10 fixed rate purchase mortgage, you don't have to come out of pocket for the 20% down payment that most traditional purchase loans require. In addition, you will benefit from a low rate and low payment that is stretched out over 30 or 40 years. Top loan experts believe that it is important for borrowers to be confident when taking a loan on against your home.
Nationwide Mortgage Loans Loan Spotlight |
 Home Mortgages 103%
Fixed rate home mortgages that go beyond 100% combined loan to value. 103 percent home loans are very popular with 1 st time homebuyers because they allow borrowers to finance the closing cost of their home purchase.
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Finance Tips and Loan Advice Benefits:
10% Money Down
Lower payment than 80-20
No Private Mortgage Insurance
Concerns:
Saving up 10% of the sales price can take a while
Second mortgage rate is quite a bit higher than 1st rates
- 90% Financing
- Purchase Money Second Mortgages
- Home Equity Credit Lines
- 90% Home Equity Loans
Don't wait any longer, Call 1-800-242-6986 to speak with a seasoned loan professional live. We offer a helpful consultation that includes a free loan quotes with no obligation. |
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ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit? |
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