Finance
A 'piggyback loan' in NC mortgage financing involves:
AOne large mortgage covering the entire purchase price
BTwo simultaneous loans, typically a first mortgage at 80% and a second at 10-20% to avoid PMI✓ Correct
CA government-backed loan combined with a conventional loan
DA seller carryback where the seller finances part of the purchase
Explanation
A piggyback loan (80/10/10 or 80/20) involves a first mortgage at 80% LTV plus a simultaneous second mortgage to avoid the need for private mortgage insurance (PMI) while financing more than 80% of the purchase price.
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