Combo Home Loans

Finding money for a sufficiently large down-payment can be a challenge, especially with rising home prices. And if you are unable to come up with 20% for the down payment, you may have to pay for costly private mortgage insurance (PMI) which increases your monthly mortgage payments. But not to worry, we can help.

Introducing our NEW 95% Financing Combo Loan. By combining two loans together (a primary loan and a secondary loan), it gives you the flexibility to have a small down payment, while still keeping your monthly mortgage payments lower by eliminating PMI. 

Here’s how the Combo Loan works. 

1. We finance 80% of the cost of the home. This is the primary part of the combo loan.
2. Then you decide how big of a down-payment you want to provide: 5% or 10%.    
3. We finance the balance of the cost of the home (e.g. if you provide a 5% down-payment, we would provide an additional 15% financing). This is the secondary part of the combo loan.

This approach lets you finance up to 95% of the cost of the home, and gain home equity quicker with better terms.

Details:

• No monthly private mortgage insurance (PMI)
• Combo loan options:
  • 80/15 (95% Financing, 5% down payment)
  • 80/10 (90% Financing, 10% down payment)
• Eligible on primary properties only