A Combo-Mortgage works by combining a first mortgage, with a home equity loan to allow you a lower down payment while avoiding the need for private mortgage insurance.

With a combo-mortgage 80% of your home’s value is financed by your first mortgage and an additional 10% is financed by a home equity loan, leaving only 10% left for your down payment. This allows you to avoid PMI, which is typically required if your down payment is less than 20%.


There are many benefits to this loan including:

  • Fixed rates on both loans
  • More affordable monthly payments
  • Ability to qualify for a higher loan amount
  • Pay off your home quicker due to the shorter term of the home equity loan
  • One loan closing process

To learn more about our combo-mortgage, contact any of our mortgage specialists or stop by one of our branches.

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*Available for 1 family and eligible condominiums, owner occupied primary residence. Offer subject to credit approval and subject to change without notice.

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