FHA & Other Loan Programs

Here at Aequor Funding Corp. we pride ourselves on having extensive knowledge and experience on all available loan programs and scenarios. Whatever your particular situation, we will make an effort to find the right loan for you. Below are just a few of the most common programs.

Conventional Loans
FHA Loans
Zero Down Payment Loans
Jumbo Loans
Construction Loans
Flex 97 Loans
High Debt Ratio Loans
Investor / Hard Money Loans
B, C & D Loans

Conventional Loans- A mortgage in which the terms and conditions meet the funding criteria of Fannie Mae and Freddie Mac

FHA Loan- This type of loan is backed by the department of Housing and Urban Development (HUD). It offers a borrower the ability to put as little as 3% down towards a purchase and utilize up to 95% of their equity on a cash out refinance on a 1-4 family residence. They also permit a borrower to finance allowable closing costs.

Zero Down Payment Loans- This loan allows a potential buyer to purchase a home without putting any money down. The borrower will only have to pay for closing costs or they can have the seller contribute up to 6% towards closing costs, as long as it is negotiated in the purchase contract.

Jumbo Loans- A mortgage in which the loan amount exceeds the conforming loans limits set forth by the Office of Federal Housing Enterprise Oversight (OFHEO). Generally, these conforming loan limits are set on an annual basis.

Construction Loans- This is a short term loan for the development or construction of or on land. The funds are generally paid in increments as the construction progresses.

Flex 97 Loans- This loan is similar to an FHA loan, however it has no maximum mortgage amount limitations. The home must be a single family and the owner must occupy the residence.

High Debt Ratio Loans- A loan in which a borrower has their ratio of monthly bills to their gross monthly income higher then 50%. We have loan programs available for this scenario on both purchase and refinance loans.

Investor / Hard Money Loans- This is a loan in which a borrower receives funds secured by the value of a parcel of real estate. These loans are typically issued at higher interest rates and costs and almost never issued by a commercial bank. They are generally issued by private investors and the average loan to value ratio is 65%-70%. These loans are generally not credit score driven.

B, C & D Loans- These loans are for individuals who may have blemished credit. Generally, we look for compensating factors when putting the loan file together. We have a vast array of loan programs that will aid in rebuilding of a borrowers credit.