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80/20 split loan?

Is this loan type still around? by millypiyd from Fresno, California. Aug 8th 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

There are no lenders out their willing to finance 100% unless your a military veteran with VA benefits or if your looking in a rural area as defined by USDA.. VA and USDA offer 100% financing.. There are also programs available where you can go FHA and only put $100 down or 1/2% total down payment.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. 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

Aug 8th 2013
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Jonathan Rhode (jrhode)
#182 ranked lender in California - 130 contributions

No.. There are no 2nd mortgage lenders that will go to 100% CLTV(combined loan to value) If you are not VA eligible There is no way at this time to avoid having to pay MI on a high loan to value loan.

Aug 8th 2013
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Steven Cook (stcookmortgage@gmail.com)
#38 ranked lender in Washington - 256 contributions

It is NOT available for purchases, though there are some instances where it can apparently be used for a refinance.

Aug 8th 2013
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Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

We have programs to 99.5% with 1/2% down in CA. If you would like to get pre-qualified get into touch with me. P: 888-320-7888 - www.MortgagesforAmerica.org - Ken@MortgagesforAmerica.org - Ken Burrows

Aug 8th 2013
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Hello,As stated below, there is no lender with the 80/20 loan anymore. A USDA loan is 100% financing, the property has to be considered Rural and there are caps on your income per county. The FHA loan is 3.50% down, and/or the .500% down as there are 3% down payment assistance programs available depending again on your income. There are income caps! And, as stated below there is the VA loan if you or your partner is a veteran. I am an licensed caring lender in California and we lend all over California. Please feel free to contact me if I can answer any questions and concerns you may have. Thank you for you question and please feel free to contact me at anytime. Cindy MacDonell cmacdonell@bayeq.com

Aug 8th 2013
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Dave Metsker (DaveMetsker)
#36 ranked lender in Oregon - 2,317 contributions

No, it went away in the 2008 crash.

Aug 8th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,993 contributions

NO... 80/20 loans are long gone, along with bad credit loans, no documentation loans, etc. The only true zero down is either a VA loan or a USDA rural housing loan. Other options take something like a standard 3.5% down FHA loan and combine it with city, county, or even state down payment assistance programs to sometimes allow for near no down payment. In MN or WI, visit www.MNhomeAndLoans.com for more information on these type of options.

Aug 9th 2013
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