Although the piggyback loans that were widely available before the housing crash are no longer available, many borrowers can now take advantage of a three-package loan, the New York Times reported.
The new loans that are now available are more difficult to qualify for and are limited to 90 percent loan to value. Potential buyers must also put down at least 10 percent for a down payment. Those who will benefit the most from the new piggyback loans are jumbo borrowers, who are purchasing a home for at least $417,000.
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