How long is the term on a 2nd mtg?

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Buying a home. Looking at a Piggyback Buster loan (80-10-10). How long do they give you to pay the 2nd mortgage off?

2006-08-16 03:13:23 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate

Typically second liens are for fifteen years. But you can also get 20-year, 30-year, and 30 due in 15-years (balloon).

2006-08-16 03:22:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋

On average btw 10-15 years fully amortizing.

2006-08-16 05:31:59 · answer #2 · answered by boston857 5 · 0⤊ 0⤋

Some places will do thirty years on a 2nd.

2006-08-16 03:18:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋