What are the benefits of piggyback financing?

Alternative to mortgage insurance could save money
Published on Dec 20, 2004

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

When a buyer puts 10 percent or less cash down, most lenders require mortgage insurance, known as PMI, which is paid for by the buyer. The cost of PMI is about 1/2 percent of the loan amount annually. So, on ...