80-10-10
Purchase Money
Second in
Maryland
On Line Pre-Qualification

Purchase Money Second Mortgages

in Maryland
80-10-10   or   80-15-5
(NEW - ask about our One Loan option that 
does NOT require Mortgage Insurance!)

What is an 80-10-10 loan?

  • It is a 10% down purchase money loan program, where there are two separate mortgage loans. 
  • The First Mortgage is for 80% of the sale price.
  • The second mortgage is for 10% of the sale price.
80-10-10 loan in Maryland - This option avoids M.I. (Mortgage Insurance, which is not deductible, while in most cases mortgage interest is) , and usually builds equity faster than a standard 30 year fixed.

Here's an Standard 10% Down compared to a 80-10-10 example:

RATES SHOWN ARE FOR EXAMPLE ONLY! 

PLEASE CALL FOR CURRENT MARYLAND RATES.

Purchase Price
 Loan Amount P+I Payment  Rate M.I.  Total Bal. in 15 Yrs.
112,000
1st   100,8000
588.24
 5.75*
39.48
616.72
70,873.49
112,000
1st   89,600
522.88
 5.75**
None
  
62,966.63
 
2nd   11,200
96.03
 6.25**
None
618.91
0

In this example, both First Mortgages are 30 year fixed,
and the Second Mortgage is a 15 year fixed. 
M.I. monthly premium is based on middle credit score, may vary,
your monthly premium may be more or less than amount shown. 

*     The A.P.R. on the first example is increased by the M.I. and is 6.197%, the M.I. is NOT required for the life of the loan, click to learn more about M.I.

**  The A.P.R. on the second example is 1st  5.882% and 2nd 6.82% 

As you can see, this is a very attractive option
that deserves a second look!

We also offer a 0%, 5%, 10% or 15% down no M.I.loan,
With rates just slightly above Fannie Mae!
Please call and ask about this NEW program today!

Please call for additional information... 

 410-643-0222   888-643-3659

80 10 10 loan is availabe in Maryland, MD.
not in Maryland? www.LowRateMortgages.com

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