More Than 80% Financing

I have done two deals this year. On one, I was required to put down 20%. On the other we did an 75-15-10.

People here often talk about putting no money down for deals. Is that only done through a)taking out two mortgages like an 80/20 1st/2nd or b)Using equity from other properties for the down payment.

Is it ever possible to get a larger loan (over 80%) at one rate? On our 75-15-10, the 2nd payment (the 15% payment) is half as high as the 75% interest only payment. It has been frustrating dealing with that. Is this just the name of the game or are there opportunities to get larger loans?

Thanks.

Comments(1)

  • mojojojo_124th August, 2005

    you can get 100% financing with good credit almost anywhere, but when you have more then 80% on one loan they will make you pay mortgage insurance, which is worse then paying the extra percent or so

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