Piggyback Mortgage Loan Program in Hoboken, NJ – Serving California, Colorado, Connecticut, Florida, Georgia, Maryland, New York, New Jersey, Pennsylvania, Rhode Island & Washington D.C.
Careful planning, attention to detail, and putting a pencil to paper will help work out all the options. After looking at all the different ways of structuring the deal, the borrower can select what’s best.
The benefit is the elimination of mortgage insurance (PMI) which is a great savings for buyers.
This program is available for purchases and refinances with a minimum credit score of 700. Eligible properties are 1 to 2 family primary residences and condos.
- Combined loan amounts up to $750,000 qualify for 90% financing through our 80/10/10 program.
- Combined loan amounts up to $1,275,000 qualify for 85% financing through our 80/5/15 program.
We use the same appraisal for both loans. There are no condo questionnaires for the 2nd mortgage. If you need any more information please contact Northstar Funding.