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The 80/10/10 mortgage is a home financing strategy that allows buyers to purchase a house with only a 10% down payment. It combines an 80% first mortgage, a 10% second mortgage, and a 10% down payment, thereby reducing the initial outlay required. Pros include lower down payment requirements and potentially avoiding private mortgage insurance (PMI). Cons may include higher interest rates on the second mortgage and additional monthly payments. It's a complex loan structure that may not suit all borrowers.

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