The down payment is $200,000 on a house with an agreed-upon price (and appraisal) of $1,600,000....

 

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The down payment is $200,000 on a house with an agreed-upon price (and appraisal) of $1,600,000. Jumbo mortgage rates are 4.3% and conforming rates are 4%. If the conforming loan limit is $800,000 in the area, then the breakeven rate on a second mortgage piggyback arrangement is __________ The down payment is $200,000 on a house with an agreed-upon price (and appraisal) of $1,600,000. Jumbo mortgage rates are 4.3% and conforming rates are 4%. If the conforming loan limit is $800,000 in the area, then the breakeven rate on a second mortgage piggyback arrangement is __________

Answer rating: 100% (QA)

To calculate the breakeven rate on a second mortgage piggyback arrangement we need to compare the to... View the full answer