Mortgage Calculators - Purchase

Mortgage Calculator - Purchase - 80/20

80/20 program, first-time homebuyers do not need mortgage insurance (PMI).
Rates, fees and programs are subject to change without notice.

Borrowers save money with our flexible 80/20 programs . This program is particularly attractive to first-time homebuyers because they do not need mortgage insurance and may be eligible for additional tax advantages.

Property Purchase Price: $
Down Payment (If Any?): %

1st Mortgage:

Based on Fixed Interest Rate:	%
Based on Adjustable Rate:	%
Term (Months):
What % of Purchase Price for the 1st Loan:	%

2nd Mortgage:

Based on Fixed Interest Rate:	%
Based on HELOC Rate:	%
Term (Months):

(Accuracy and use of this calculator is not guaranteed)

Borrowers save money with our flexible 80/20 programs. This program is particularly attractive to first-time homebuyers because they do not need mortgage insurance and may be eligible for additional tax advantages.

Features:

No reserves required for combined loan amounts as high as $625,000
Credit scores as low as 580 (Primary wage)
Available for Primary Residence Single Family Resident, (PUD), Low-Rise Condo, High-Rise Condo, and 2-Unit Property types
Available on Purchase, Refinance, and Cash Out Refinance transactions
Gift funds and property seller concessions of up to 6% allowed for purchase transactions
Full Doc combined loan amounts up to $875,000 with cash out up to $275,000
Limited/Stated Doc combined loan amounts up to $625,000 with up to 100% cash out

Additional Features:

Up to 50% DTI
Interest Only options available on the 80% 1st loan
No mortgage insurance (PMI)

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