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Know exactly what you can afford before you start searching for a home.

Home Purchase Qualifier

Congratulations! You’re ready to buy a home…

Special Loan Programs

Here at Equinox Home Financing, we love to tell our customers that we are home purchase loan experts. That’s because we are! Since our inception our focus has been on home purchase loans. We do quite a bit of refinance loans as well but once you have mastered home purchase loans, refinance loans are much easier to process than home purchase loans are. That said, we pride ourselves in being able to offer creative solutions or special loan programs that are available to match buyers based on their specific situation. Here’s a small sample of special loan programs we offer:

  • Bank Statement Program– if you are self-employed and have a low net income on your tax returns, we can use your personal or business bank statement deposits as your income. We would simply take 12 months of your deposits and calculate the average. The average will be used as your monthly income.
  • Delayed Financing– if you are looking to move out of your current home and want to rent it out so that you can buy a new home, we have delayed financing. This program allows you to get a rent survey on your existing home so that we can offset your debt-to-income ratio on your new home.
  • Cross collateralization– if you own a home that is paid off or has a lot of equity, how would you like to use the equity in that home to buy a new one? We would simply replace your lien on the existing home, use the equity that you have to use as a down payment on your new home. Again, this is all on paper so there would be no need to refinance or sell your existing home. This program was very popular in the 80’s and has made a comeback for investors.
  • Real Estate Partnership Program– If you are looking for a home and are unable to buy for the price that you want because your debt to income is too high, this program will match your 10% down payment! That’s right if you put down 10% we will match you so that you can buy more home.
  • Stated Income– For buyers who have credit challenges and a hard time documenting their income but have a large down payment, we have stated income loans available. The interest rates on these loans are higher however it can put you into a position to own a home if it makes sense.
  • Down Payment Assistance– Down Payment Assistance has been our bread and butter. We have become experts at down payment assistance programs. We work with over 12 foundations and banks that offer 1st time homebuyers with down payment assistance.

These are just some of our programs that we have available. There are many more so if you have questions about our Special Loan Programs, please call us or apply today!

Do I Qualify?

To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of “28/36.”  This means that no more than 28% of your total monthly income (from all sources, before taxes) can go toward housing, and no more than 36% of your monthly income can go toward your total monthly debt (including your mortgage payment).

  • Fixed Rates
  • Adjustable Rates (ARM)
  • Conforming Loans
  • Jumbo & Super Jumbo Loans
  • FHA, VA, & USDA Loans
  • Terms from 5 to 30 Years

Get Your FREE Pre-Approval Letter Now!

Home Purchase Qualifier
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