EquiEstate, Corp has an affiliation with EquiMortgage Bankers, Corp. EquiEstate is proud to offer its customers financing through EquiMortgage Bankers, Corp. Please note that at no time are you obligated to use EquiMortgage Bankers, Corp in order to obtain financing.
Are you looking to finance a property? Count on EquiMortgage Bankers to provide you with the best possible interest rate and closing cost for your mortgage needs. EquiMortgage Bankers is a Licensed Correspondent Mortgage Lender in Florida. We are approved FHA, VA, Reverse Mortgage, Fannie Mae, Freddie Mac, Jumbo Loans and USDA.
FHA refinance mortgage or FHA loan allows for the refinance or purchase of a home with a low down payment, currently 3.5%. These loans are great for the first-time homebuyer.
V.A. financing allow veterans to purchase a home with no money down. This loan is great for eligible veterans for either purchase or refinance.
Reverse Mortgages. A reverse mortgage is a special type of home loan for Americans of age 62 or older that lets a homeowner convert a portion of the equity in their home into cash -- with no repayment until the last surviving borrower dies, sells the home, or no longer lives in the home as a principal residence.
If you obtain a reverse mortgage loan, the lender pays you in a lump sum, a monthly advance, a line of credit, or a combination of all three, while you continue to live in your home. You do not have to make monthly payments. You retain title to your home, and the funds you receive may be used for any purpose and generally are tax-free (without other features, like an annuity) and do not affect Social Security or Medicare benefits. Many reverse mortgages have no income restrictions.
Most people don’t know that they can also purchase a home using a reverse mortgage. If you’re age 62 or above and are looking to purchase a home, this might be a great financing tool for you.
Fannie Mae AKA; FNMA. The corporation's purpose is to purchase and securitize mortgages in order to ensure that funds are consistently available to the institutions that lend money to home buyers.
Freddie Mac AKA; FHLMC is a government sponsored enterprise (GSE) of the United States federal government. Freddie Mac has its headquarters in Tyson's Corner CDP in unincorporated Fairfax County, Virginia.
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac," was an acronym of the company’s full name adopted officially for ease of identification.
Jumbo Loan In the United States, a jumbo mortgage is a mortgage with a loan amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises Fannie Mae and Freddie Mac, and sets the limit on the maximum value of any individual mortgage they will purchase from a lender.
USDA
USDA Loans are offered through the Rural Housing Division of the US Department of Agriculture. USDA Loans were created to facilitate housing and development in America's rural areas. The USDA offers mortgage loans so that people are not forced to move and can afford housing in the rural areas they want to live in. USDA Rural Development loans are one of the last remaining 100% financing programs left. The government offers the zero money down option so that rural borrowers, who may be renting, can have access to affordable mortgages. That is why the USDA does not require any down payment on their rural housing mortgage loans. USDA Rural Development loans are the perfect way to finance your rural property without coming up with a down payment.
Some of the USDA Loan program highlights include:
Along with the benefits above, any closing costs and prepaid expenses not covered by the seller can be financed in, if the appraisal supports it, with a USDA Rural Housing Loan.
Please contact Daisy Olin from EquiMortgage Bankers if you have any questions or if you need to get prequalified at 305-557-5052 or dolin@embankers.com.