Finance
A Texas 'piggyback' loan structure (80/10/10) means:
AAn FHA loan with 10% down
BAn 80% first mortgage, a 10% second mortgage, and a 10% down payment — avoiding PMI✓ Correct
CThree separate lenders each funding one-third of the purchase
DA VA loan with a 10% contribution from TDHCA
Explanation
A piggyback loan uses a first mortgage for 80% of value, a second mortgage for 10%, and a 10% cash down payment. Since the first mortgage is at 80% LTV, PMI is not required, potentially saving money compared to a 90% LTV loan with PMI.
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