Get the keys to your home with a piggyback loan from Santander Bank.

80-10-10 Combination Loan


If you've found your dream home, but the 20% down payment is a stretch, consider Santander Bank's 80-10-10 Combination Loan., Also known as a piggyback loan, which an 80-10-10 Combination Loan combines a mortgage with a variable rate home equity line of credit (HELOC) to lower your down payment. With down payments as little as 10.01%, one application, and one closing, an 80-10-10 loan is it's an affordable and convenient approach to home ownership.

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80-10-10 Combination Loan Advantages

Potential Tax Deductibility

Potential Tax Deductibility

Potentially take advantage of tax-deductible interest on both your first mortgage and home equity line of credit (HELOC).

More Affordable

More Affordable

Purchase your home for as little as 10.01% down.

Lower Monthly Payment

Lower Monthly Payment

Pay less every month by eliminating the need for Private Mortgage Insurance (PMI).

What is an 80-10-10 Combination Loan?


The Santander Bank 80-10-10 Combination Loan is a piggyback loan option that allows customers to make home ownership a reality with as little as 10.01% down. The 80-10-10 Combination Loan consists of a first mortgage from Santander Bank for 80% of your home's value, a variable rate home equity line of credit (HELOC) as a piggyback loan for 9.99% of the home's value, and the 10.01% cash down payment.
80% First Mortgage
plus
9.99% Home Equity Line of Credit
plus
10.01% Cash Down Payment
equals

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May We Also Suggest?

1All loans subject to approval
>> You can withdraw funds from your Money Market Savings account no more than 6 times by computer, telephone, preauthorized transfer, check, or Debit Card purchase each service fee period. Fees apply if you exceed these limits, and if you repeatedly exceed these limits, we will close your account or convert your account to a checking account.