Introducing the CalTAP Plus Combo Loan (80-10-10)

80% LTV 1st Mortgage | 10% Down Payment | 10% 2nd Mortgage

Our "NEW" CalTAP Plus Combo Loan will help you purchase a single-family residence, condominium, or townhome in most *High-Cost California counties up to $1,350,000 with only 10% down and a 10% line of credit in the form of a 2nd mortgage. Other combo loan finance options are available below up to a home purchase price of $1,750,000!

Our combo loan is also available for Rate & Term and Cash-Out Refinance loans. Loan limits in other counties may vary, click here to view California loan limits in your county.

Our combo loan is also available for Rate & Term and Cash-Out Refinance loans. Loan limits in other counties may vary, click here to view California loan limits in your County.

*High-Cost California counties include Alameda, Contra Costa, Los Angeles, Marin, Napa, Orange, San Benito, San Francisco, San Mateo, Santa Clara and Santa Cruz.

Here is how our CalTAP Plus Combo Loan works!

Max Purchase Price	Down Payment %	Down Payment $	1st Mtg $	LTV	2nd %	2nd $	CLTV
$1,350,000	10%	$135,000.00	$1,080,000	80%	10%	$134,865	89.99%
$1,450,000	10%	$145,000.00	$1,087,000	75%	15%	$217,355	89.99%
$1,550,000	10%	$155,000.00	$1,085,000	70%	20%	$309,845	89.99%
$1,650,000	10%	$165,000.00	$1,072,500	65%	25%	$412,335	89.99%
$1,750,000	10%	$175,000.00	$1,102,500	63%	27%	$472,325	89.99%

CalTAP Plus Combo Loan Benefits:

1. An 80-10-10 mortgage is structured with two mortgages: the first being a fixed-rate loan at 80% of the home's cost; the second being 10% as a home equity loan; and the remaining 10% as a cash down payment. A higher purchase prices may require a larger 2nd mortgage (or) down payment.
2. This type of mortgage structure reduces the down payment of a home without having to pay private mortgage insurance (PMI), helping borrowers obtain a home more easily without additional up-front cost.
3. Expand your buying power above county loan limits without obtaining a Jumbo loan which usually requires a minimum 20% down payment and 6 to 12 months mortgage payment reserves with most lenders.

If you have any questions about the CalTAP Plus home loan program, please contact our CalTAP Plus Hotline @ 800-310-7577, 8:30 AM to 8:00 PM., or apply online to begin the loan process.