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

User SyntaxError
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2 Answers

21 votes
21 votes

Answer: 100,000

Explanation:

User Christopher Chase
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19 votes
19 votes

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.

Explanation:

125.000 × 80 ÷ 100 =

User Tirth Patel
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