Finance
A Kentucky property buyer uses a 'piggyback' loan (80-10-10). This means:
A80% first mortgage, 10% second mortgage, 10% down payment✓ Correct
B80% cash, 10% first mortgage, 10% second mortgage
C80% seller financing, 10% bank loan, 10% down
D80% land value, 10% improvements, 10% personal property
Explanation
An 80-10-10 piggyback loan structure uses an 80% first mortgage, a 10% second mortgage, and a 10% down payment, avoiding PMI while allowing the buyer to put less than 20% down.
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