Why Are Piggyback Mortgages Called 80/10/10 Mortgages?
Why Are Piggyback Mortgages Called 80/10/10 Mortgages? An 80-10-10 mortgage is a loan where first and second mortgages are obtained simultaneously. The first mortgage lien is taken with an 80% loan-to-value ratio (LTV ratio), meaning that it is 80% of the home’s cost; the second mortgage lien has a 10% loan-to-value, and the borrower makes