Best for customers with a 5%-10% down payment.
Allows you to avoid the cost of traditional Private Mortgage Insurance.
Provides an opportunity for a tax deduction, as it offsets the cost of Private Mortgage Insurance through your interest rate.
Potentially lower payments than a similar loan with Private Mortgage Insurance.
Available on most loan programs.

Another mortgage insurance alternative is an 80-15-5 Program (sometimes referred to as a Piggy-Back).  This fixed rate program is designed to help borrowers purchase a home with as little as 5% down while avoiding mortgage insurance.  Not only does it save you money, it also maximizes your tax benefits (ask your tax advisor for details).

Some advantages of taking part in this program include ...
- greater equity build up
- 2^nd lien is 100% tax deductible (mortgage insurance isn't)
- 2^nd paid off in 5-15 years helps college expenses or retirement
- allows for expanded underwriting qualifying ratios
- allows borrowers to manage their own escrows
- there are no prepayment penalties on 1^st or 2^nd lien

Restriction apply. Program terms are subject to change. Some products not available in all states.