Home Equity Lines of Credit and Home Equity Loans When you have at least 20% or more equity in your home and a good credit profile, you are a strong candidate for a Home Equity Loan. Home Equity is the difference between what you owe on an existing home loan and what your home is worth (market value). Many homeowners …
FHA borrowers now have options for private flood insurance
New HUD rule expands flood insurance choices for FHA borrowers Floods can happen anywhere. In fact, just one inch of floodwater can cause significant damage. Unfortunately, most homeowners’ insurance does not cover flood damage. Flood insurance is a separate policy that can cover homes, the contents of a home, or …
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What happened to the MassDREAMS program?
As of Wednesday, November 30, 2022, at 10:00 pm, the MassDreams grant program will be suspended. Due to its popularity and the expertise of lenders like Mortgage Equity Partners, the funds allocated for the grant program have been exhausted. The MassDreams program provided a forgivable grant for up to $50K, which …
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What is a VA loan?
What is a VA home loan? VA loans are home loans with unique benefits exclusively for eligible service members, veterans, and some eligible surviving spouses. Most regular military members, veterans, reservists, and National Guard can apply for a VA loan. Spouses of military members who died while on active duty or as …
How does a 2-1 buydown work?
A 2-1 buydown loan is a mortgage with a reduced payment for the first two years of the loan, and then the third year of the loan, the payment will rise to its note rate. So basically, you get a lower mortgage payment in the first two years of your loan. Why are we seeing 2-1 buydown loans now? Generally, when …
What is a bridge loan? Learn about our Instant Equity Loan Program
Potential homebuyers in the current real estate market may find themselves stressed when trying to negotiate a competitive offer to purchase a new home. The market heavily favors the seller, so homebuyers need a competitive edge to set them apart. For this reason, Mortgage Equity Partners created our custom Bridge Loan …
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