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Usually this refers to two loans, or mortgages. The first loan is 80% of the sales price of the home. The other 20% is borrowed as a second loan, often a home equity line of credit. If you put the full 20% down yourself, this is usually referred to as an 80% loan-to-value mortgage.
What else can I help you with?
What happen to second loan after foreclosure?
They only foreclose on the 1st loan. The 2nd will go as a charge off as bad debt. They may sue you to get a judgment on it. I had an 80/20 loan and on my credit the 80 loan was only showing as foreclosure, the 20 was coming up as charged off
What are the requirements for obtaining an 80 loan to value mortgage?
To obtain an 80 loan to value mortgage, you typically need a down payment of at least 20 of the home's purchase price. This means you would be borrowing 80 of the home's value. Lenders may also consider your credit score, income, and other financial factors when approving the loan.
What is the process for removing PMI from an FHA loan?
To remove PMI from an FHA loan, you typically need to have paid off at least 20 of the loan, and your home's value must have increased to the point where your loan-to-value ratio is 80 or less. You can request the removal of PMI from your lender once these conditions are met.
What is the loan to value allowed for seller's concessions?
80%
How can I remove FHA mortgage insurance from my loan?
To remove FHA mortgage insurance from your loan, you can either refinance your loan into a conventional mortgage or make a substantial payment to reduce your loan-to-value ratio below 80.
What happen to second loan after foreclosure?
They only foreclose on the 1st loan. The 2nd will go as a charge off as bad debt. They may sue you to get a judgment on it. I had an 80/20 loan and on my credit the 80 loan was only showing as foreclosure, the 20 was coming up as charged off
What are the requirements for obtaining an 80 loan to value mortgage?
To obtain an 80 loan to value mortgage, you typically need a down payment of at least 20 of the home's purchase price. This means you would be borrowing 80 of the home's value. Lenders may also consider your credit score, income, and other financial factors when approving the loan.
What is 20 percent of 80?
20 percent of 80 = 1620% of 80= 20% * 80= 20%/100% * 80
What is 80 percent of 20?
80% of 20 is 16.
If you pay off a car loan how does it affect your credit and for how long does it affect it?
It will help it - usually 20-80 points - It actually effects it forever.
What is the greatest common factor of 20 and and 80?
Since 20 is a factor of 80, the GCF of 20 and 80 is 20
What ia 80 percent of 20?
80% of 20 = 80% * 20 = 0.8 * 20 = 16
What is the process for removing PMI from an FHA loan?
To remove PMI from an FHA loan, you typically need to have paid off at least 20 of the loan, and your home's value must have increased to the point where your loan-to-value ratio is 80 or less. You can request the removal of PMI from your lender once these conditions are met.
25% of 80?
Twenty five percent of a number would be 1/4 of it. So that would have "25% of 80" is as "80/4 = 20".
What is 20 percent of eighty?
20% of 80 = 20% * 80 = 0.2 * 80 = 16
20 of is 80?
four 20 of 4 is 80 20 x 4 = 80
Will you have problems getting a mortgage if you have average credit and a deferred student loan?
Many banks will give you a loan for a house, but your problem will be getting the best APR on your loan. A good rate is around 6%, problems with credit might get you a 8% APR. Don't get fooled into doing an interest only loan or 40 year loan. Use the 30 year loan and you may have to get an 80/20 (80% value of the home for the first mortgage and 20% on the second mortgage) right off the bat if you don't have a down payment of 20% of the value of the home. No one likes a second mortgage coming into the deal, you can always refinance in a couple of years into one mortgage. Shop around to get your realtor and bank.
