Are there any lenders still offering 80/15/5 (or 80/10/10 if 80/15/5 is not doable anymore) loans? If so what are ballpark int rates?

Asked by Serendipity, Washington, DC Wed Jan 23, 2013

I am a first time home buyer with excellent credit score (800 ) and no debt. My financial consultant walked me through 90/10 and 95/5 FHA options but someone who bought a house a while ago mentioned these "2 loan" options as well and I am looking to do away with PMI and increase the price range of the house that I am able to afford for the same monthly payment. I am looking to buy in and around DC in MD or VA. I really appreciate the responses.

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Bhaardt, Home Buyer, Washington, DC
Fri Jan 25, 2013
Yes we have 80/10/10 Avaliable, no 80/15/5 but can do 95% confirming up to $417,000.
90% NO PMI up to $625,500. We also do 85% NO PMI .
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Nick Pakulla, Mortgage Broker Or Lender, Rockville, MD
Thu Jan 24, 2013
Yes, you have several options available. Depending on your price range, a loan with lender paid mortgage insurance may actually be better because Fannie Mae adds pricing adjustments for a second mortgage almost equivalent to the lender paid mortgage insurance premiums. We also offer a 10% down second if that is the only thing you are interested in. I would be happy to run through several options for you.
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Your Solar R…, Agent, Silver Spring, MD
Wed Jan 23, 2013
You should try Lafayette Federal Credit Union and Naval Federal Credit Union.
They offer 95% to a 100% financing No PMI.
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Roger Weaver, Agent, Rockville, MD
Wed Jan 23, 2013
Hi Serendipity (great handle):

Yes, I have been doing several deals through BB&T. They have several portfolio products that includes an 80-10-10, as well as a no MI, high Loan To Value, mortgage product. These are called portfolio loans as BB&T will not be selling these through CDOs or Fannie/Freddie. These loans have some more stringent criteria for the borrower, and in some cases an income restriction. There are other lenders with similar programs. I can provide names and numbers if you contact me at 301-424-0900 x135.
Roger Weaver.
0 votes
Boris Miric, Agent, Alexandria, VA
Wed Jan 23, 2013
Hello, there are 5% down no PMI conventional loans as well as 80/10/10. I'd be glad to provide you with the detailed info. Feel free to call or connect in the AM.

Boris Miric
0 votes
Jason Skipwo…, Agent, Washington, DC
Wed Jan 23, 2013

I could refer you to some local lenders who have some creative loans, but not sure they offer those exact scenarios, but it can't hurt to reach out to them.
Email me at and I will provide you their contact info.
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