Combination Loan
We’re making it easier to purchase your new home with a combination loan!
Overview of Combination Loans
This fixed-rate mortgage allows you to purchase a home with as little as 10% down without the need for mortgage insurance. This combination loan splits your loan into two mortgages: a first mortgage that would finance up to 80% of your purchase and a 2nd mortgage that would finance the remaining portion for total financing up to 90% of your new purchase.
FAQs
Where can I see current mortgage rates?
Connect with a local mortgage loan officer to learn more about our competitive rates.
Should I get a loan pre-approval?
What documentation is required for a mortgage loan?
What is the minimum down payment needed when buying a primary residence, second home, or investment property?
What costs and fees are typically included as part of a mortgage?
Ready to Take the Next Step?
For example purposes, a home worth $625,000 obtaining a 30 year fixed-rate first mortgage at 80% LTV with a note rate of 8.625% and an APR of 8.653% APR would have a monthly Principal and Interest payment of $3,888.94. And obtaining a 15 year fixed-rate second mortgage on the remaining balance of $62,500 with 10% down at a note rate of 9.625 and an APR of 9.988% would have a monthly Principal and Interest payment of $657.36.