Borrowers who use Newfi Wholesale’s Olympic Piggyback can obtain jumbo loan amounts while still getting agency pricing.
What’s exciting about the Piggyback?
- Avoid cash out pricing & LTV limits on 1st mortgage – take the cash on the 2nd!
- Avoid mortgage insurance!
- Purchase to 95% CLTV (restrictions apply)
- 80/10 Rate & Term or Cash Out
- 1st mortgage standard or high balance conforming
- 2nd loan amounts: $25,000 – $250,000
- Overlays to FNMA DU:
- Maximum 43% DTI
- Minimum 700 credit score
- 1st mortgage term options:
- Fixed: 30, 20, 15 and 10 years
- ARMs: 7/1 and 5/1
- 2nd mortgage terms options: 30 or 15 years
- Primary residence or second home OK
- Fully delegated with both loans underwritten concurrently
For more information
See the latest guidelines, or call the Newfi Wholesale team at 888-415-1620!