Separate Financing means utilizing two mortgages to buy or refinance a home so the total amount financed is “split” up into two loans. a 2nd lien is a home loan that exists behind an initial lien mortgage and it is typically utilized to prevent home loan insurance coverage (MI) and/or Jumbo funding. Separate financing and lien that is second may also be referenced as: piggy right back loans, 80/10/10, 80/15/5, etc. Continuar leyendo «When doing split financing these terms are generally tossed around: 2nd liens, 2nd mortgages»
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