Finance
A South Carolina buyer obtains an 80% first mortgage and a 15% second mortgage to put only 5% down. This structure is called a:
AFHA loan
BPiggyback loan (80-15-5)✓ Correct
CJumbo loan
DBridge loan
Explanation
An 80-15-5 piggyback loan structure allows the buyer to put only 5% down while keeping the first mortgage at 80% LTV to avoid PMI, with a 15% second mortgage making up the difference.
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