Posted by James Strange on July 21, 2003 at 02:16:09:
Is this for an owner occupied or non owner?
If you were to do one loan instead of an 80/20 your rate would be higher and you would have to pay PMI.
combo loan? - Posted by antonio
Posted by antonio on July 21, 2003 at 01:16:37:
i just recevied a 80/20 combo loan
loan amount: 80% @ $104,000 20% @ $26,000
interest rate: 80% @ 6.0% 20% @ 12.375%
blended rate: 7.275%
loan term: 80% @ 2/28 due 30 / 20% @ 30 due 15
p&i: $820.65
i called a loan broker and he offered me this package… i am seeking to purchase my first duplex. is this package ok for a first time investor with bad credit??? does any one know what is a 80/20 combo loan is???