100% financing and 80/20’s
November 19th, 2007 by rayrice | no responses
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100% financing and 80/20’s
Well it is official. My countrywide rep just announced that they were cancelling the 80/20 loan programs as well as the 80/15/5’s. This means that instead of being able to get a second lien like in the past, borrowers will have to stick with only one loan and be responsible for PMI.
The one advantage is the PMI is now tax deductable.
We still have other lenders in our database that do allow for second mortgages above 90%.
Ray Rice
Broker/Owner
Rice Capital Mortgage
Joy Rice Realty Group and Rice Capital Mortgage serve the Dallas, Flower Mound, Southlake, Grapevine, and Keller, Texas luxury home communities.
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This entry was posted by rayrice, on Monday, November 19th, 2007 at 4:48 pm and is filed under Southlake Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response on the right, or trackback from your own site.
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