This article explains the difference between a Standalone and a Piggy Loan.
Typically, the loan type is Standalone. A Piggy loan, on the other hand, involves refinancing both the current 1st mortgage and obtaining a 2nd mortgage simultaneously.
Typically, the loan type is Standalone. A Piggy loan, on the other hand, involves refinancing both the current 1st mortgage and obtaining a 2nd mortgage simultaneously.