Piggyback Loan Program is a Special Program to Eliminates Private Mortgage Insurance
Main office in New York – Loan Programs are available in New York, New Jersey, and Florida
Starr Mortgage Company structures 10% down payment loans with no PMI.
Traditionally loans with a 90% loan-to-value or higher are required to have Private Mortgage Insurance (PMI) to insure the loan against default. This can be a significant expense to the borrower.
Starr Mortgage Company has the ability to structure a purchase or refinance transaction which includes an 80% first mortgage, a 2nd (piggyback) loan of 10% and a 10% down payment from the borrow. With this type of structure, the need for PMI is eliminated, and the borrower experiences a significant savings.
To Contact Us:
80/10/10 “piggyback” Piggyback Loan Program, borrowers should call our seasoned loan team at 845-348-3172 and speak to us about how this type of transaction can benefit them.