Equity-based mortgages are mortgages that are based upon the equity of the home (appraised market value minus the mortgage amount). Mortgage amounts can be as high as 90% of the appraised value and are generally offered to clients that do not meet the normal income and/or credit qualifying guidelines. Clients may have bruised or impaired credit and/or be self-employed with little or no income verification.
If you are interested in finding out if an equity-based mortgage might be the right solution for you, please contact us today.