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Imperfect Credit? No Problem.
Don't Let Bad Credit Keep You From Getting a Mortgage or Refinancing.
We specialize in helping people with less than perfect credit obtain the
financing they need.
Even if you've been in bankruptcy or had a foreclosure, we will find a way to help get your loan.
We understand the credit issues of each individual and we’ll help you qualify for a loan when others have turned you down.
We will give you recommendations so you improve your credit for the
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| You may be able to qualify for our loan programs even if you fall into any of the categories below: |
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| Bankruptcy |
| Mortgage Lates |
| Judgments |
| Liens, Charge offs |
| Collection accounts |
| Foreclosure |
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| Medical bills |
| No credit |
| Too many bills |
| Unemployed or laid off |
| Turned down by a bank |
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| Imperfect Credit loan products include: |
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| 2/28 ARM |
| 3/27 ARM |
| 5/25 ARM |
| FHA Loan |
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| 15 year fixed loan |
| 30 year fixed loan |
| 40 year fixed loan |
| 50 year fixed loan |
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| Average Credit |
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If you think or know your credit score is between 600 and 675, you are just below perfect credit. Equity United Mortgage Corporation has the ability to obtain rates as if you did have perfect credit. Through our wide variety of lender relationships, we are able to obtain the most competitive rates for you financing needs.
Limited/No Documentation Available
No Income Verification Available
Low or No Down Payment Option Available
Average Credit Products include:
3/1 ARM
5/1 ARM
7/1 ARM
15 Year Fixed
30 Year Fixed
40 year fixed loan
50 year fixed loan
Interest only
FHA Loan |
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| Perfect Credit |
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If your credit is above 675, Congratulations! You are among a small percentage of the population. Equity United Mortgage Corporation rewards this type of client with the low interest rates and very competitive closing costs. Because of your high credit score, we are able to streamline the purchase or refinance process with less documentation and requirements.
Loan Products Include:
3/1 ARM
5/1 ARM
7/1 ARM
15 Year Fixed
10 Year Fixed
30 Year Fixed
20 Year Fixed
FHA Loan |
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| Loan Solutions |
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| 97% Financing |
| Adjustable Rate Mortgage |
| Fixed Rate Loans |
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Adjustable Rate Mortgage
An adjustable rate mortgage (ARM) has an interest rate that is not fixed. The interest rate is varies based a specific index. Each lender varies the index to which they tie their Adjustable Rate Loans.
We offer adjustable rate mortgages that are fixed for a certain period before it becomes adjustable. Fixed rate periods of 1,3,5,7,10 years are available before the adjustable period begins.
Why use an Adjustable Rate Mortgage?
Maximize Buying Power - given the lower adjustable interest rate, the monthly payment will be less allowing you to qualify for a larger loan amount.
Lower Payments - By choosing an ARM, your initial payments will be lower and lower upfront cost than a fixed rate loan.
Lower Upfront Cost - If you are planning on staying in your home for short period of time, usually 7 years or less, lower upfront costs and payments generally make an adjustable rate mortgage cost less than a fixed rate mortgage.
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Fixed Rate Loans
Fixed Rate loans offer a monthly payment where the interest and principal never change. Property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable.
Fixed rate mortgages are available for 30 years, 20 years, 15 years and even 10 years.
There are also "biweekly" mortgages, which shorten the loan by calling for half the monthly payment every two weeks. (Since there are 52 weeks in a year, you make 26 payments, or 13 "months" worth, every year.)
Most fixed rate are fully amortizing loans where the interest rate and the payments remains fixed for the life and are structured to repay the loan at the end of the loan term. The most common fixed rate loans are 15 year and 30 year mortgages.
During the early amortization period, a large percentage of the monthly payment is used for paying the interest. As the loan is paid down, more of the monthly payment is applied to principal. A typical 30 year fixed rate mortgage takes 22.5 years of level payments to pay half of the original loan amount.
Why use a Fixed Rate Mortgage?
Fixed Payments- Your monthly payment stays fixed so you know what to expect every month.
Increased Long Term Savings - If you are planning to stay in your home for the long-term, 7 years or more, you may end of saving more money then if you would have chosen an adjustable rate mortgage.
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Interest Only
With an interest-only mortgage loan, you pay only the interest on the mortgage in your monthly payments for a set period. At the end of the interest-only period, your monthly payments increase to include principle and interest. Typical interest only period usually exist for 2, 3, 5, 7, 10, and 15 years.
Why use an Interest Only Loan?
More Cash Flow -Since you are only paying the interest portion of your monthly payment, you are freeing up cash for other purposes.
Close on the home you want – With an interest only option you may qualify for a larger loan.
Reduced documentation available-Some lenders require less documentation as compared to other loan programs.
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| RISKOMETER |
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| Risk of rates worsening |
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| Our Turn Times |
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• Currently, our turn time is less than 14 days of loan submission.
• Underwriting conditions recieved by 5:00pm ET 01.14.09 will be reviewed within 4 hours of reciept. |
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| QUICK CONTACT |
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Call Us Toll Free at,
866-828-1500 |
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Fax Us at,
443-836-0213 |
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