What is a Piggyback Loan and How Does it Work?

Courtesy of Gene Mundt, Portfolio Mortgage, Chicago  Definition and Purpose of a Piggyback Loan:  To reduce the amount of the first loan amount, used in addition to a Borrower’s own funds (Down Payment). Advantages of Using a Piggyback Loan:  The Piggyback is typically used to reduce the first loan amount to an 80% level, so as […]

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