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80-20 Home Purchase Mortgage
Nationwide Mortgage Loans provides 100% home financing programs for first time homebuyers with good or bad credit.
We offer many fixed rate home purchase loan programs. The 80-20 home purchase is an 80% first mortgage and a 20% second mortgage that work together so you don't have to take money out of the bank for a down-payment.
Don't let savings get in the way of you purchasing your dream home. |
Save your money with 100% Home Mortgage Loans |
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. " Zero Down Home Mortgage Loans" have become one the most popular combo loans for 1st time homebuyers in the last year. Borrowers can avoid paying mortgage insurance and preserve the capital with no down-payment required with 100% financing. In addition, Nationwide offers home equity, second mortgage and refinance loans with a fixed or adjustable interest rates.
$400,000 Home Purchase - 80-20 Payment Example:
$320,000 30 Year Fixed First Mortgage at 6%
360 Monthly Payments at $ 1,918.56
$80,000 30 Year Fixed Second Mortgage at 8%
360 Monthly Payments at $ 587.01
With the 80-20 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.
Finance Tips and Loan Advice
Benefits:
No Money Down
Lower rate for 30 or 40 years
No Private Mortgage Insurance
Concerns:
Monthly payments can be costly with no money down
Second mortgage rate is quite a bit higher than 1st rates
- 100% Financing
- Purchase Money Second Mortgages
- Debt Consolidation of High Rate Credit Cards
- 100% 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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