2nd Lien Mortgages Explained.Reasons For Split Funding
2nd Lien Mortgages Explained.Reasons For Split Funding Split Financing means utilizing two mortgages to get or refinance a home so the total quantity financed is “split” up into two loans. a 2nd lien is a home loan that exists behind a primary lien mortgage and it is typically utilized to prevent Mortgage insurance coverage (MI) and/or Jumbo funding. Separate financing and 2nd lien loans are referenced as: piggy straight right back loans, 80/10/10, 80/15/5, etc. (daha&helliip;)