FHA / VA Loans | Five Star Mortgage

Five Star Mortgage, LLC
2280 Satellite Blvd.
Duluth, GA 30097

OFFICE 770.495.3516
FAX 770.495.3528

Piggyback Loans.
A Piggyback Mortgage consists of two (2) loans, a first mortgage with an 80% loan to value ratio and a second mortgage that "piggybacks" onto the first mortgage. The primary reason to have a Piggyback Mortgage is to avoid mortgage insurance. Mortgage insurance is required on all conventional loans with less than 20% down payment and protects the investor should the loan go into default.

There are two primary advantages to a Piggyback Mortgage. First off a purchaser will have a lower monthly payment utilizing the Piggyback Mortgage compared to just a single mortgage with mortgage insurance. Secondly, mortgage insurance is not tax deductible and the interest on the home loan is.

The second mortgage that is piggybacking on the first mortgage can be set up as either a fixed rate fully amortized loan or as a home equity line of credit. Anyone purchasing a home without a 20% down payment should look into a Piggyback Mortgage to save on their monthly housing budget.

No matter what your situation may be, 1st time home buyer, newly found financial flexibility, we can come up with a number of ways to accomplish your goals and we won't limit your options like some do.

We utilize the latest technology to make the process run very smoothly for you -- resulting in quick turnaround to capture your best possible rate.

Go ahead and try us out. You'll find a local company offering the most competitive rates in today's hot Atlanta real estate market.

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