The advantage to having a first and second mortgage equalling 100% financing is that you would not have to pay PMI, which would be required on a first mortgage at 100%. The second mortgage is subordinate financing, meaning it is in the second lien position on the house, and therefore does not affect the first mortgage lender's ability to persue the subject property in the event of a default on the loan.

The thing to consider is that when you do this on a purchase, your first AND second mortgage lender will qualify you at the cumulative mortgage payment.

The liability is 100%. Both are 100% responsible for payment.

No I do not have a mortgage from AARP Reverse Mortgage because I am not 100 years old. That is for old people who need money and do not need their house any longer because they will be dieing soon.

A list of the top 100 mortgage companies can be found in many places such as on the internet, at sites such as Wikipedia. On Wikipedia the list is frequently updated and changed live depending on the mortgage company rating.

One can apply for a 100% mortgage through their local banks and credit unions. One can also go online to apply on sites such as Quicken Loans and Lending Tree.