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The Equitable Mortgage Corporation, a Top Mortgage Broker in Bonita Springs Gives Insights on New FHA Guidelines During COVID

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The Equitable Mortgage Corporation, a Top Mortgage Broker in Bonita Springs Gives Insights on New FHA Guidelines During COVID

December 01
15:06 2020
The Equitable Mortgage Corporation, a Top Mortgage Broker in Bonita Springs Gives Insights on New FHA Guidelines During COVID

Bonita Springs, FL – Buying a home or refinancing a mortgage loan is a dream that many people pursue. However, finding a mortgage broker that supports those dreams may be tricky. At The Equitable Mortgage Corporation, the team understands that each client is different in terms of their needs, financial standing, preference, budget, and income. Based on all of these, the Equitable Mortgage Corporation offers a direct and seamless solution that is tailored to individual needs.

Focused on client satisfaction, the Equitable Mortgage Corporation would like to highlight some changes to FHA mortgage rules during COVID. The latest announcement came in view of the global pandemic that has affected the nation’s economy and the income potential of many across the United States. 

FHA guidelines have recently become much more strict. The official minimum score is 580 to qualify for a 3.5% down payment and 500 if you have a 10% down payment. Lenders, however, have the option to be able to set their own limits within the FHA guidelines. Several lenders in the Bonita Springs, FL area have set the limit of their FICO minimum score to the 660-680 range. At first glance this seems to be bad news however, this affects only about 12% of borrowers. Truth is 65% of borrowers are looking for a conventional loan and are not affected by this news. 

The Mortgage experts at The Equitable Mortgage Corporation in Bonita Springs, FL will help you work through the information described above to ensure you are always getting the Mortgage solution that is right for your situation.

Announcing the mortgage offer, the representative for the Mortgage brokers in Bonita Springs Florida said: “Some mortgage companies rely heavily on flashy marketing and non-traditional mortgage programs to lure in clients. At Equitable Mortgage, we rely on time-tested mortgage solutions and believe a satisfied client is the best marketing. Being a direct lender with in-house underwriting and funding, we have simplified the process. The addition of electronic signatures, our “Mortgage Always” app, and the opportunity to close in the comfort of your own home, has made the mortgage process even more client-friendly.”

Clients who choose to take advantage of the services offered will have access to a wide variety of tools as well as experienced loan officers. They will work closely with them to consider their present and future financial standing and choose the best mortgage product that speaks to those factors.

Licensed to serve customers in Ohio, Florida, Michigan, North & South Carolina, Indiana, Kentucky, Tennessee, Colorado, and Texas, clients will have access to a variety of mortgage loan products including the 5% down conventional loans with no PMI, Zero down payment purchase programs with USDA and VA financing options, FHA delegated lender 3.5% down payment, Fixed-rate low down payment Jumbo loans, assets depletion program for high net worth clients, non-warrantable condos including new builds and high rises, VA loans, as well as first-time buyer programs.

Existing property owners in need of help with Mortgage Refinance Bonita Springs can also approach The Equitable Mortgage Corporation.

The Equitable Mortgage Corporation has its office located at 24301 Walden Center Dr., Unit 300, Bonita Springs, FL 34134 United States. Call the office on 239-695-7796 to schedule an appointment, visit their website, or send an email to [email protected] for more information.


Media Contact
Company Name: The Equitable Mortgage Corporation
Contact Person: Steven Calabrese
Email: Send Email
Phone: 239-695-7796
Address:24301 Walden Center Dr., Unit 300
City: Bonita Springs
State: FL
Country: United States