REAL ESTATE GLOSSARY # -  A -  B -  C -  D -  E -  F -  G -  H -  I -  J -  K -  L -  M -  N -  O -  P -  Q -  R -  S -  T -  U -  V -  W -  X -  Y -  Z 80-10-10: A type of blended mortgage loan which avoids private mortgage insurance (PMI).  It consists of an 80% - 30 year first lien at market rates, a 10% - 15 year second lien at a slightly higher interest rate, and a 10% down payment.  Instead of having to come up with a 20% down payment, a buyer is able to avoid PMI with only 10% down.  While the interest rate on the second note is a bit higher, the total monthly payment is usually lower than a 90% mortgage with PMI.  In addition, the extra interest paid for the second lien is tax deductible, whereas PMI is not.  It is also possible to payoff just the second lien, thereby lowering the future monthly payments. Some lenders also offer 75-15-10 and 80-15-5 programs.  This type of mortgage also gives the consumer the option of having a non-escrowing loan without a 20% down payment. # -  A -  B -  C -  D -  E -  F -  G -  H -  I -  J -  K -  L -  M -  N -  O -  P -  Q -  R -  S -  T -  U -  V -  W -  X -  Y -  Z