Want to avoid Private Mortgage Insurance (PMI) but don’t have a big down payment?
Logix offers a new mortgage loan program for members to purchase a home with as little as 10% down and no requirement for PMI
Would you like to learn more about this unique program?
Call 800-328-5328 now!
Here's how 80-10-10 works:
- 80: The first value (80) refers to the percent of the home value that the first mortgage will cover (i.e., 80% of the value of the home).
- 10: The second value (10) refers to the percent of the second mortgage in the form of an equity loan.
- 10: The third value (10) refers to the percent of down payment required.
In order to avoid PMI, the first mortgage loan amount on purchases must be no more than 80% of the sales price or appraised value, whichever is less.
If you’ve got great credit, contact us today for details about this unique way to avoid PMI!
Remember, Logix offers:
- Satisfaction Guarantee - we'll do it right or pay you $500+
- 25 Day Closing Guarantee++
Click here to check current rates.
Logix mortgage loans are available in the following states: AZ, CA, DC, ME, MD, MA NH, NV, and VA.
The 80/10/10 mortgage loan is available on purchase transactions of owner-occupied, primary residence, single family homes, condominiums, PUDs, and townhomes only. 10% down payment must be from borrower's own funds (gifted down payment not permitted, however cash reserves and closing costs may come from gifted sources). Maximum loan amounts: First trust deed $800k, second trust deed $100k. Private Mortgage Insurance (PMI) is not required.
+ $500 Satisfaction Guarantee. We’ll do it right or we’ll credit $500 to your savings account. Satisfaction Guarantee applies to 1st trust deed mortgage loans and must be requested within 30 days of loan funding.
++ Logix 25-Day Loan Closing Guarantee. For 1st mortgage, purchases only, Logix guarantees to close your loan in 25 calendar days unless prohibited by Federal regulation, and provided Logix has received your (1) completed loan application; (2) all requested documents, (3) you have electronically consented @ Logixmortgage.com online mortgage loan application portal at the time of application through loan closing to receive all loan documents and disclosures electronically (Upon request, paper copies available at no additional charge.), and (4) all pre-conditions have been satisfied at least 5 calendar days prior to the scheduled closing date. If all required conditions are met and your loan fails to close on time due to a delay by Logix, you will receive a credit towards closing costs up to $2,000 at loan closing. Logix 25-Day Loan Closing Guarantee may not be combined with other offers, including our $500 Satisfaction Guarantee. Not available on "no cost" loans.