Or you can contact me directly at Shashank@ArcusLending.com or at 1-855-644-LOAN
You can get a 80% loan from a 1st lien lender with the best interest rate and the other 10% from a 2nd lien lender with a little higher interest rate.
Another option is to get mortgage insurance.
If your credit scores are as good as you say they are then you shouldn't have a problem getting a 80/10/10 loan. You also have the option of looking at a 80/15/5 down to a 680 FICO score on the 2nd lien if you wanted to go up to 95% LTV.
Feel free to also look at First Time Homebuyer programs as well.
Maker Capital Group, LLC, an Ameripro Funding Co.
REALTOR | Mortgage Broker
Keller Williams Realty | 360 Lending Group
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
The short answer is you can get them just about anywhere. Most lending companies still offer this product as well as 90% loans with no mortgage insurance if you would prefer one monthly payment instead of two. Good luck with the search and if you have questions just let me know.
I have a question for you....why do you want an 80/10/10 mortgage? I would assume your answer is to avoid PMI (private mortgage insurance) you would have to pay on the mortage for the lender until you reached 20% equity in the home. With 10% down, your 90% mortgage would have PMI attached. But with the second 10% loan would go towards your "down payment", your 80% main loan would not require PMI.
I understand some buyers can write-off their PMI payment on their Federal taxes just like they can write-off the interest they paid and their property taxes. Restrictions apply, but you might want to explore that before getting this 80/10/10 type of mortage. That second smaller loan is typically at a higher interest rate. If you compare a 90/10 (10% down, 90% mortgage) VS your 80/10/10..the monthly payments are very similar, but lower overall interest and more write-offs.
You need to get with a good, patient lender that will show you the numbers side-by-side and how much each loan cost you over a one year, five year, 10 year time span plus the monthly payments. Go to my web site as I have several great loan officers that would love to speak to you. Loans are tougher to get these days so planning ahead before you find that perfect home is the way to go.
There are also no pmi loans... rolled into the rate.
Lending all across the Great State of Texas!!
Integrity First Home Loans
1221 W Campbell Rd, Suite 115
Richardson, TX 75080
NMLS License #209438