Right now, in the 9-county San Francisco Bay Area, and also much of coastal CA (Los Angeles, Orange County, etc.), we will often see home prices ranging between $800K and $1.6MM. These may all be eligible for piggyback or 80/10/10 type structures and it's something with which I'm very familiar.
Get in touch with any questions at any time.
We have a program that will permit an 80-10-10 setup to a purchase price of $1,562,500. That would be structured as $1,250,000 first mortgage, $156,250 down payment and $156,250 from the down payment funding match program we offer. It's not technically a second mortgage and I'll be happy to explain how it works if you think it may fit for your scenario.
This program also can match up to 12.5% of a buyer's down payment, so it's possible to buy a home worth $2,000,000 with a down payment of $250,000 and the down payment funding match of $250,000.
I am a local SF lender and my profile and references are easily accessed here on Trulia.
Yes, we offer 80/10/10 loans. ~
Elva A. Wormley
*Office (408) 615-8500
*C2 Financial Corporation
*2845 Moorpark Avenue, Suite 209
*San Jose, CA 95128
We can do;
The first to 80% and the 2nd for up to 10% for a combined 90% loan-to-value and a max combined loan amount of $750,000
The first to 80% and the 2nd for up to 5% for a combined 85% loan-to-value and a max combined loan amount of $1,275,000
The first to 80% and have you get your own "outside 2nd" for up 10% and for a combined 90% and a max combined loan amount of $1,100,000 (740 minimum credit score needed)
Regardless of whether the lender of the subordinate "outside 2nd" is a private-party individual or an institution, a copy of the note is required to ensure that our parameters for subordinate financing are met.
A minimum down payment of 5% of the value must be paid from your own funds. The remaining down payment may be gift funds.
Feel free to email me for more details
Senior Loan Consultant
By Referral Only
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - BRE 01380701
We offer 80-10-10 options. We are located here in Walnut Creek. Feel free to contact me directly to discuss.
Amerifirst Financial Inc.