Are 100% ARM loans available?

Posted on August 22

Question:  We are changing jobs and will be moving half way across the U.S. We are trying to purchase a home without being contingent upon the sale of our existing home. We then will use the proceeds of the sale of our current home to put into the mortgage somehow. So, is there an option to do an 80/20 primary secondary (the proceeds of our sale should about cover the secondary)? Or, are there any 100% ARMs out there that I could get, and then refinance to conventional upon the sale of our home?

Answer:
We will offer an 80% 1st mortgage on your new home, and the remaining percentage secured by your existing home.

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