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Can we get an 80-10-10 loan still?

Please let us know if that is still possible. by SamMendelsen214 from , . Jul 5th 2013 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,588 contributions

There a few lenders out there still offering an 80/10/10, however you will find that if you just do a 90% first, your payment would actually be less.. So, there's really no benefit of having a 10% 2nd... the fact that your asking this question tells me that you have not spoken to a mortgage professional yet, and if that's the case, you really should if your seriously contemplating a new home purchase.. take all the guess work out of it, and sit down with a professional and let him put the numbers together for you.. only then will you have the necessary information to make a proper decision as to which way to go.. .. 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

Jul 8th 2013
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David Sanders (David_Sanders)
#813 ranked lender in California - 59 contributions

Hi Sam, Yes a few select lenders do the 80-10-10 loans still. Very unpopular because economically it doesn't make sense when you can do a 90% with Single premium monthly mortgage insurance or even build it into the rate. You pay less doing this option. Sam, if you are located in California. Give me a call, let me overview your situation and see what would be best for you and your family. Thanks! 760-616-1882 Direct Cell. david@crossroadsfunding.com www.homeloansbydavidsanders.com

Jul 8th 2013
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James Mazzola (Mazzola)
#110 ranked lender in New Jersey - 313 contributions

At some banks. Try PNC or TD Bank

Jul 6th 2013
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James Mazzola (Mazzola)
#110 ranked lender in New Jersey - 313 contributions

At some banks. Try PNC or TD Bank

Jul 6th 2013
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Sandra Soehngen (sanysojo)
#115 ranked lender in New Jersey - 1 contribution

Have you thought about an FHA option? Reach out to me and I will explain our options. Sandra Soehngen NMLS #1031145 Gateway Funding Diversified Mortgage Services

Jul 6th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Yes, but with the MI being so much lower than it was in the past just doing 90% conventional loan with MI can be a cheaper payment dependant on your situation. In fact you can go all they way up to 97% on a conventional loan now.

Jul 6th 2013
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Jeff Albrecht (jeff.albrecht)
#95 ranked lender in Texas - 76 contributions

Sam - yes, we still DO the 80/10/10, and we also do a Conventional 97% with or without Mortgage Insurance. There are still quite a few options today! Please click on my profile to the left, and then click on my email address and drop me a note, and we can chat in the morning. My direct office # is 512-381-4643. Thanks...Jeff

Jul 7th 2013
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Steven Cook (stcookmortgage@gmail.com)
#38 ranked lender in Washington - 256 contributions

Sam -- they may be available, but you will be paying a higher combined rate, than if you used a low down conventional loan. Also, there are probably going to be some tough hurdles to get over to complete the process. If you qualify for a VA loan, that would be even better, as there is no down payment required on those.Since I don't know where you live, I can't give you any more specific information than that.

Jul 7th 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#76 ranked lender in Florida - 2,240 contributions

Some will still do it.

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

Contact one of the fine lenders on this forum.

Jul 8th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,869 contributions

Generally speaking, yes, those type of loans are still available - but they have fallen out of favor. Lenders don't like them, and there are other options that are less risky to the lender. Loans like single premium PMI are more popular today.

Jul 8th 2013
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Eric Vander Werff (Loanguy99201)
#87 ranked lender in Washington - 27 contributions

Yes many lenders still have this (my company included) . There are also 90% one loans with or without mortgage insurance available depending on what state you are in and your credit profile.

Jul 8th 2013
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,588 contributions

There a few lenders out there still offering an 80/10/10, however you will find that if you just do a 90% first, your payment would actually be less.. So, there's really no benefit of having a 10% 2nd... the fact that your asking this question tells me that you have not spoken to a mortgage professional yet, and if that's the case, you really should if your seriously contemplating a new home purchase.. take all the guess work out of it, and sit down with a professional and let him put the numbers together for you.. only then will you have the necessary information to make a proper decision as to which way to go.. .. 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

Jul 8th 2013
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Nikitas Kouimanis (MrMortgage)
#8 ranked lender in New York - 114 contributions

call me at 516 469 6262 NMLS 9659

Jan 23rd 2014
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