6 Reasons Why Equinox Home Financing Is So Different
Today, more than ever before, people are looking to save money when purchasing a Home Financing. One of the most common ways to save money is by purchasing a home with a mortgage that is more affordable than a conventional mortgage.
Equinox Home Financing was founded to empower people with access to capital who need it most. The company’s name is derived from the Equinox, the points in the day when the sun is directly overhead. The Equinox Home Finance Company was created to provide a new and innovative way for people to obtain mortgage financing.
In this article, we’ll discuss why Equinox Home Financing is so different from other home lenders, and how that might appeal to you.
What is Equinox Home Financing?
Equinox Home Financing works in a unique way. There are three groups of investors that participate in the Equinox Home Financing process:
1) The investor who provides the money for the loan
2) The investors who provide the mortgage insurance, and
3) The homebuyer.
Through this approach, Equinox Home Financing is able to offer up to 95 percent financing on loans up to $750,000. Equinox has access to less costly mortgage insurance than other lenders, which allows them to reduce their interest rate. For example, if your family income is $100,000 a year and you qualify for an FHA loan with a 3.5% down payment, your interest rate will be 3.625%. With Equinox Home Financing, if you had the same credit score and income as in this example but put down only 10% on your house, your interest rate would be 2.625%. That’s a .75% difference! And it’s not just a little more – when you consider what equates to 1%, it can make quite a difference over time.
The first thing you’ll notice about Equinox Home Financing is that they provide a personalized service. As a customer, you will be able to purchase your home with an affordable mortgage at a time in your life when you need it most.
Equinox Home Financing offers a rigorous screening process to find the best candidate for their loan programs. This can help you feel confident that they are working in your best interest.
For example, Equinox Home Financing will consider many factors like credit score and income before approving someone for financing. If someone’s credit score is too low or their income is too low, Equinox may not offer them a loan. This can help ensure that applicants who qualify for financing are more likely to be approved for financing than someone who doesn’t meet the company’s qualifications.
No Minimum Credit Score
Equinox Home Financing doesn’t have a minimum credit score requirement. Instead, the company looks at your individual situation and determines whether or not you are a good candidate for a mortgage.
Maybe you’ve had other loans in your past that didn’t work out as planned, but you still want to own a home. Equinox Home Financing doesn’t look at past mistakes when determining whether or not to offer you a mortgage. Rather, they review your situation and determine if they can help you. If they can, then congratulations!
If not, don’t worry—they will provide guidance on how to get back on track so that you can qualify for a mortgage down the road.
Upfront Competitive Pricing
One of the best features of Equinox Home Financing is their upfront, competitive pricing.
Many people want to know what they are going to pay before they sign off on a mortgage. If you don’t believe that up-front pricing is important, then maybe you should consider this: In an online poll conducted by Harris Poll on behalf of Equinox Home Financing, over 50% of respondents said that knowing the cost ahead of time was very important in their decision to use Equinox for their mortgage financing needs.
Equinox Home Financing provides competitive rates and upfront pricing, so you know exactly what your mortgage will be when you contact them for an estimate. That way, you’re not getting any unpleasant surprises when you finally decide to purchase your home and learn about the real cost.
Simple Application Process
Equinox Home Financing offers a simple, streamlined application process. The company’s online application only takes around 30 minutes to complete. This applies to all applicants, whether or not they have any previous home ownership or mortgage experience.
Guaranteed Credit Approval
Equinox Home Financing offers a guaranteed credit approval process, meaning that if you have a credit score of at least 640, you are guaranteed to be approved by their company. This is a unique offer not available from other mortgage lenders.
So, Why Should Someone Apply With Equinox Home Financing?
Equinox Home Financing provides a way for people to have access to financing that they might not have been able to find elsewhere.
There are many benefits of having an Equinox Home Financing mortgage, but the most notable is being able to purchase a home with a better and more affordable interest rate than a traditional mortgage. Additionally, you will be required to put down less money for your down payment on your new home, which means you will be building equity faster. Equinox is different because it doesn’t require private mortgage insurance and offers lower rates that are still competitive. There’s also no pre-payment penalty and no prepayment penalties on certain programs. These features may help someone decide if an Equinox Home Financing mortgage could work for them.
If you’re looking for an easy way to finance your next home purchase, Equinox Home Financing is the right solution for you. Equinox Home Financing offers a variety of financing options with no minimum credit score required and a guaranteed credit approval. With no equity and no monthly payments, you can own your next home without the hassle!