October 15th, 2008 by admin
A debt to income ratio is a guideline used by lenders to determine your maximum mortgage amount. It’s calculated as a percentage of your monthly gross (before taxes) income that is used to pay your monthly bills or debts. There are two types of calculations, a “front” and “back” ratio which lenders use to determine your [...]
September 2nd, 2008 by admin
A piggyback loan is a mortgage loan in which the financing is handled by two different lenders. The first lender finances a large portion of the loan, usually 80% and another seperate lender finances the remaining balance of the loan. There are three common options of piggyback loans, 80-10-10 loan, the 80-20 loan (also known [...]
Tags: 80-10-10 loan, 80-20 loan, 85-15-5 loans, calculator, down payment, Finance, HELOC, home equity loan, loans, mortgage, piggy back loan, piggyback loan, piggyback loan calculator, second mortgage
Published by admin on Sep 2, 2008 under
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