Portfolio Second Lien

Parents with a little girl
If you’re house-shopping and have enough for a down payment but not quite the amount needed to avoid PMI (private mortgage insurance), we’ve got a solution. With our Portfolio Second Lien (also known as an 80/10/10), we finance 80% in a first mortgage, 10% in a second mortgage, and with your 10% down payment, you’re able to avoid the PMI requirement. One of our loan professionals can make understanding a Portfolio Second Lien easy. This program offers a flexible way to get the home you want… without the mortgage insurance you don’t.

HIGHLIGHTS

  • Mortgage insurance not required
  • Purchase, rate and term refinance, cash-out refinance on primary residence only
  • Down payment as low as 10%

TYPES AND TERMS

  • 80/10/10

ELIGIBLE PROPERTIES INCLUDE

  • Single-family residence (1-unit)
  • Planned unit developments (PUDs)
  • Condos (warrantable to FNMA guidelines)

Program eligible in CO, NM, AZ, MI, TX, MO, KS, WA.