Equity Max

Basic information

QM program

N/A

Loss payee

EquityMax, Inc. ISAOA ATIMA 6216 N Federal Hwy Fort Lauderdale FL 33308

CPL or subordinate clause

EquityMax, Inc. ISAOA ATIMA 6216 N Federal Hwy Fort Lauderdale FL 33308

Lock policies & fees

Lock policies

Lock extension

N/A

Relock

N/A

Lock & Shop

No

Lender's niche & overlays

Lender's niche

NON-Owner Occupied Properties Only 

Loan Amount ($$ figure): $25K-$1mm per deal.

Loan Amount: up to 80% of your purchase price, not to exceed 60-65% of the full repaired value.  No prepayment penalties with no late pays.

1st year interest rate: starting at 12-15% (higher for deals less than $50,000)

Points: starting at 2-4%

Total Fees: $2,295, including attorney’s fees, doc prep, title review, underwriting, admin/processing, etc… No Windstorm policy and No Appraisal required.  Just a $295 BPO/Inspection fee.

The EquityMax Difference:

1) Loans as little as $15,000

2) No Appraisal / No Survey

3) 17-year term w/ no prepayment penalty when borrowers make on-time payments.

4) No Minimum FICO Score.

5) Fire & Theft Insurance Only.  No Windstorm or Flood

6) Rural Areas / Manufactured Homes OK

Lender's overlays

Our mobile/modular loans must been all real property, inclusive of the mobile home.  It must be on deeded land

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

3

Initial CD (days)

5

Reviews