Yerkes Upstate
and Only Way Realty
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Compare loans

Below is a comparison of a conventional loan to a 80/15/5 loan, to a 80/20 loan. 80/15/5 loans are common for those that have a little saved up for a down payment, and the 80/20 loans are common for those that don't have any cash to use for the down payment. Both of these loan types are structured to avoid the mortgage insurance.

Purchase Price and Terms
Purchase price    
First mortgage Conventional 80/15/5 Loan 80/20 Loan
Down payment 5% down 0% down
Loan term years Loan term years Loan term years
Interest rate % Interest rate % Interest rate %
Second Mortgage
    15% second 20% second
    Loan term years Loan term years
    Interest rate % Interest rate %
Estimated Monthly Payments
(does not include items such as HOA's, special taxes, land leases...)
1st loan amount 80% first 80% first
1st P&I 1st P&I 1st P&I
       2nd P&I    2nd P&I
Monthly taxes Monthly taxes Monthly taxes (based on 1.15%)
Hazard ins. Hazard ins. Hazard ins. (based on .030%)
Mortgage ins. (if LTV > 80%)  
Total payment Total payment Total payment
Loan to value %
Loan calculations based on a conforming conventional loan program. This calculator is supplied for estimate purposes only and to provide you with a general idea. Accuracy of the results are not guaranteed, or the applicability to your situation. Please consult a qualified professional for a more detailed quote.