Tag Archives: 10 Percent Down Making a Comeback?

The 10 percent down payment may be back. Reportedly, some lenders are offering 90 percent financing once again on all loan types. RPM Mortgage, based in San Francisco, resumed its “piggyback” loans in the first quarter of this year. The company had put its piggyback loans on hiatus in late 2007 during the financial crisis. A piggyback loan allows a borrower to put down 10 percent without having to pay private mortgage insurance. The last few years lenders have tightened up their underwriting standards and raised their downpayment requirements, mostly […]