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80/15/5 Lender?

Looking for an 80/15/5 loan for a 545k single family property in WV. I have excellent credit and make about 195k per year but only have about 25-30k to put down. Are there any lenders doing this? by rutter4420 from Martinsburg, West Virginia. 15 days ago Reply


Scott Kinne (Skinne)
#30 ranked lender in Virginia - 66 contributions

Hello, and Yes, there are lenders doing 80/15/5 financing still, and I would be happy to assist you! The downside of the 80/15/5 these days is that the 2nd trust rates are a little higher, and now amortized over a shorter period, such as 15-20 years making the payments a little higher. Depending on the lending limits in your County, 95% financing with Lender Paid MI is often found to provide lower total payments, and still have the Tax Destructibility found in an 80/15/5 compared to separate Mortgage Insurance. If you would like to understand all your options, please Call me. Scott Kinne / VP / First Heritage Mortgage (NMLS ID# 182351) 703-293-6146.

15 days ago
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John Schweer (johnschweer)
#9 ranked lender in Missouri - 158 contributions

Not a problem, this is a common program. We can structure it in a few ways to give you the best program for your specific needs. 18 years of experience ready to help you816-517-5626John

15 days ago
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,641 contributions

It's highly unlikely you will find a lender willing to hold a 2nd position for 15% at 95% LTV on a jumbo property.. Besides, You are almost always better off finding a 95% jumbo lender, since your combined payment would be higher on an 80/15/5, however they do exist.. I"m here in AZ and CA, and we have 5% down on jumbo up to $1.5m.. I'm sure you can find someone local that can do the same. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

15 days ago
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