Avoid PMI with an 80/10/10 Loan
An 80/10/10 loan—also called a piggyback mortgage—helps buyers reduce upfront costs and avoid private mortgage insurance (PMI). The structure includes an 80% first mortgage, 10% second mortgage, and 10% down payment. This strategy is ideal for borrowers with strong credit who want to lower out-of-pocket costs and monthly expenses. At Team GWC of Citywide Home Mortgage, we design 80/10/10 programs to give buyers flexibility, affordability, and long-term financial savings.
At-a-Glance:
Min down: 10%
Credit fit: Good to excellent
Occupancy: Primary or second homes
Loan size: Conforming and above
Pros: Avoids PMI
Cons: Requires two loans
FAQs
A loan split into two mortgages plus 10% down.
The first mortgage remains at 80%, so PMI is not required.
Yes, borrowers can refinance into one loan as equity builds.
No, it’s also used by conforming buyers with limited cash.
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