Your Mortgage Search Ends Here
Apply for a free, no-obligation quote from Mortgage Foundation
Mortgage Foundation offers the best interest rates on mortgages
with outstanding customer service to give you a pleasant
experience with your refinance, home equity loan, or new home purchase.

That is the Mortgage Foundation difference.

Give us a chance to prove it to you by clicking "Get Started"
Start

Glossary of Terms > P > Piggyback Loan

Piggyback Loan

A combination of a first mortgage for 80 percent of property value, and a second for 5, 10, 15 or 20 percent of the home's value. These combinations are designated as 80/5/15, 80/10/10, 80/15/5, and 80/20/0, respectively. Piggyback loans are a substitute for mortgage insurance for borrowers who cannot put 20 percent down.

P Terms

Payment Change Date

Periodic Payment Cap

Periodic Rate Cap

Piggyback Loan

PITI

Points

Portable Mortgage

Pre-approval

Pre-Qualification

Preconstruction

Predatory Lending

Prepayment

Prepayment Penalty

Primary Mortgage

Primary Residence

Prime Rate

Principal

Principal Limit

Private Mortgage Insurance

Probate

Processing

Promissory Note

Property Tax

Purchase Agreement

Purchase Money Mortgage