1 year ago

sam took out an 80/20 mortgage on a 125 000 home what is the amount financed under the first mortgage

1 answer:

4 0

Answer:

An 80/20 mortgage can save money on the front end of your home loan and over the course of the loan. Essentially, an 80/20 mortgage is a pair of loans used to purchase a home. The first loan covers 80 percent of the home’s price, while the second covers the remaining 20 percent. Both loans are included in the closing and will require you to make two monthly mortgage payments.

Step-by-step explanation:

125.000 × 80 ÷ 100 =

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