Home Down Payment Piggyback Loan Calculator
Use this calculator to model an 80-10-10 (or similar) piggyback loan structure, splitting your home purchase into a first mortgage, a second loan, and a down payment to avoid private mortgage insurance.
Combined Monthly Payment
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Down Payment ($)—
First Mortgage Amount ($)—
Second Loan Amount ($)—
First Mortgage Monthly Payment ($)—
Second Loan Monthly Payment ($)—
About this calculator
Calculate the split between a first mortgage, piggyback second loan, and down payment to avoid PMI on your home purchase.
Frequently Asked Questions
What is a piggyback loan?
A piggyback loan uses a second mortgage alongside your first mortgage to increase your effective down payment and avoid paying private mortgage insurance (PMI).
What is an 80-10-10 loan?
It means 80% first mortgage, 10% second (piggyback) loan, and 10% down payment, a common structure to avoid PMI.
Is a piggyback loan cheaper than PMI?
It depends on interest rates and how long you keep the loan. This calculator helps you compare monthly payment totals.