An in-depth analysis of the lender Equitable Home Mortgage inc
Are you looking for a home mortgage provider that offers the best rates but it’s also a good and reputable lender? If so, then read our Equitable Home Mortgage Inc honest review. In this review, we’ll be taking a closer look at their services, their process, and customer reviews to see if they are truly a good mortgage broker.
If you’re in the market for a new home, you’ve probably been doing your research on different lenders. Equitable Home Mortgage Inc is a direct mortgage broker that offers only conventional loans. They are headquartered in Scottsdale, Arizona.
They have been in business since 1992 and in 2014 they have been BBB accredited and got a rating of A+.
|15, 20 and 30 years
|Credit Score Range
|No Origination Fee
|Employment Statuses Considered
|Home purchase and refinance
|Joint Loan Applications Accepted
|Verification Documents Required
How Much Money Can You Borrow from Equitable Home Mortgage Inc?
When taking a loan it’s important to know how much you can actually borrow. And to be honest, it was very hard to find how much money you could borrow from Equitable Home Mortgage Inc.
Their website lacks basic information and for this Equitable Home Mortgage Inc. review, we had to dig up to find the maximum loan amount. The answer is that you can borrow up to $1.5 million from them.
Equitable Home Mortgage Inc Pros & Cons
If you’re thinking about using Equitable Home Mortgage Inc for your home mortgage needs, it’s important to weigh the pros and cons of their services.
One of the biggest benefits you will get working with Equitable Home Mortgage Inc. is that they are a BBB-accredited company with an A+ rating. On the other hand, they have many bad customer ratings and they are also not accredited by HUD.
Another downside of working with them is that their website lacks basic information, such as what they offer and interest rates. This is a major red flag and raises suspicion if they are even a legit mortgage broker.
- BBB accredited
- Long years in business
- No information on their website
- Not accredited by HUD
- No disclosed interest rates
- Bad ratings
What is the Longest Loan Term You May Obtain from Equitable Home Mortgage Inc?
If you’re looking for a long-term loan from Equitable Home Mortgage Inc, you may be able to obtain a loan with a term of up to 30 years.
This could give you the opportunity to keep your monthly payments low and pay off your loan over a longer period of time. Of course, the interest rate on your loan will play a role in how much you ultimately pay back, so it’s important to compare rates from multiple lenders before choosing one.
Lastly, choosing the longest term isn’t always the best option for everyone as it means the borrower will pay more over the life of the loan. Be sure to also consider shorter options like 15 or 20 years as they may be better suited for your situation.
What Mortgage Rates Do Equitable Home Mortgage Inc Offer?
Equitable Home Mortgage Inc. interest rates are nowhere to be found on their website. We tried our best to at least find some information regarding their rates, but we didn’t manage to find anything.
As we have previously mentioned, their website has nothing on it except the phone number and state they operate in. Honestly speaking, this is a major red flag and it’s best to find a lender that will be transparent with their future clients.
What is the Estimated Funding Time?
When considering any mortgage option, taking into account funding time is one of the necessary steps. As for Equitable Home Mortgage Inc, we could not find the exact information as the website is missing a lot of information.
All we can give you is the average estimated funding time which is about two weeks for most mortgage loans. This is the time it takes for the company to fund a loan after all required documentation has been received. Of course, this timeframe can vary depending on the specific circumstances of each loan.
Do They Charge Mortgage Origination Fees?
Equitable Home Mortgage Inc is considered a high-fee lender. This means that they do charge origination fees. Unfortunately, we are unable to find the exact amount they charge, so it’s best to just stay away from them.
On top of that, Equitable Home Mortgage Inc. closing costs are also high but again there is no information on how much they are exactly.
Does Equitable Home Mortgage Inc Charge Prepayment Fees?
After our thorough investigation, we found that Equitable Home Mortgage Inc does charge prepayment fees. So, in case you end up taking a loan from this lender and you want to pay it off early, you will be charged a certain amount based on the outstanding balance and the loan type and term you agreed upon.
This can be a huge burden to customers who want to sell their homes or refinance their mortgages.
What Mortgage Programs Are Available?
Equitable Home Mortgage Inc. only offers one type of loan, which is a conventional loan. Another option besides conventional loans is the possibility to refinance.
Honestly speaking, this is a very poor variety of loan products. Mainly, because they only attract people who need conventional loans or refinancing. This leaves customers with no possibility to choose something else with them.
What Property Usage Types Does Equitable Home Mortgage Inc Allow?
Not all homebuyers are the same. Some may be purchasing their first home, while others may be looking to upgrade or downsize. To accommodate the needs of their customers, Equitable Home Mortgage Inc offers these options:
- Primary residences
- Secondary home
- Vacation home
- Investment property
How Do People Rate the Customer Service and User Experience?
Here comes the fun part of conducting this Equitable Home Mortgage Inc, review. Their customer ratings are just terrible. Of course, not everyone will have excellent ratings but to have more bad reviews than good ones, means they are not doing a good job.
Customer satisfaction with Equitable Home Mortgage Inc. is non-existent. A lot of customers complained their customer support is unprofessional, and they also complained about the company itself not being a very good one.
So, if you want to work with a good and legitimate lender, feel free to contact us. We would gladly help you to find the perfect lender for you.
Contacts of Equitable Home Mortgage Inc
Equitable Home Mortgage Inc. is available in Arizona, Idaho, Washington, Florida, California, and Texas. There is a toll-free number on their website that you can reach and as well as an email address.
Each branch has a different number and email, so if you are interested in them, you can check that on their website. We will provide you with the toll-free number down below.
Availability of Equitable Home Mortgage Inc
If you’re looking for a mortgage company that offers a conventional loan then you should check out Equitable Home Mortgage Inc. The company offers its services to customers in the following US states:
Equitable Home Mortgage Inc Summary
- Equitable Home Mortgage is a mortgage broker based in Arizona and has been in business since 1992.
- The broker is considered a high-fee lender as they do charge prepayment fees as well as origination fees and closing costs.
- The only loan type this broker offers is a conventional loan with a maximum of $1.5 million.
- The company has been accredited by BBB since 2014 and has an A+ rating.
- They offer their services to customers in six different states: Arizona, Washington, Florida, California, Idaho, and Texas.
- Lastly, we should warn you that this company has a really poor online rating so work with them at your own risk.
FAQs About Loan Company
1. Where is Equitable Home Mortgage Inc’s headquarters?
Equitable Home Mortgage Inc is based in Scottsdale, Arizona with an address of 6831 E 5th Ave.
2. How many employees are working at Equitable Home Mortgage inc?
There are between 11 and 50 employees working at Equitable Home Mortgage Inc.
3. Is Equitable Home Mortgage inc a good lender?
The company has been in business since 1992 and has been accredited by BBB with an A+ rating, so we can say that the company is considered good.