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Equity Direct
Funding

About Equity Direct Funding

Equity Direct Funding, based in Las Vegas, Nevada, assists a wide range of individuals with the often-complex task of applying for and securing loans. In order to render the loan application process as quick and painless as possible for its clients, Equity Direct Funding breaks the procedure down into four easy-to-understand steps.

The first step for Equity Direct Funding clients is to determine how much money they need to borrow. Several important factors go into making this decision, and Equity Direct Funding ensures its customers are asking the right questions. The seasoned team of borrowing experts at Equity Direct Funding suggests clients consider their maximum affordable monthly payment, all potential positive and negative aspects of personal credit and employment history, and the details of current income and debt. Equity Direct Funding provides calculators and counseling to aggregate this information and uses the numbers it receives to give prospective borrowers an accurate sense of how much they will be able to borrow and on what terms.

Equity Direct Funding’s second step consists of the pre-qualification process. At this stage of the loan application, Equity Direct Funding is best positioned to help clients save money. Clients provide Equity Direct Funding with important personal and financial information, such as employment details, residence history, current assets, and projected income. With the client’s permission, Equity Direct Funding will then run a check to determine the individual’s credit score, which in turn governs amount and terms of the loan. At this time, Equity Direct Funding will issue a Pre-Qualification Letter. Potential homebuyers can use this Pre-Qualification Letter to demonstrate seriousness and financial means in negotiations with sellers, while Equity Direct Funding goes to work to find a loan that meets each client’s individual needs.

Once a client has made an accepted offer on a home, Equity Direct Funding assists with the third step, which is the loan application itself. Equity Direct Funding ensures this experience is quick and easy for clients, and, once the application has been submitted, the company will arrange a home appraisal.

The fourth and final step comprises the actual funding of the loan. Equity Direct Funding communicates with the escrow company on its clients’ behalf, ensuring that all the paperwork is in order.

The professionals at Equity Direct Funding are well-versed in a vast array of loan types and client situations, and they stand ready to help people make their dreams of the perfect house come true.


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Equity Direct Funding's Publications

  • Equity Direct Funding assists clients in obtaining mortgages to buy homes.
    March, 2011
    Equity Direct Funding assists clients in obtaining mortgages to buy homes.
    [Attribution: Daniel Case]

    Equity Direct Funding serves as a licensed mortgage broker in Nevada dedicated to helping individuals obtain home loans that fit their budgets and long-term goals. We ensure client satisfaction through efficient handling of the application process, finding the right loan vehicle in the shortest possible amount of time. We also consult with clients on mortgage-reducing strategies with which they may lack familiarity. One of these strategies involves purchasing a lower interest rate.

    Buying a better rate by paying points is a solid strategy for home buyers who plan on retaining their property over the long-term. Even those who foresee moving or refinancing often benefit from this strategy. Each point represents 1 percent of the total loan amount, and borrowers may buy points as an advance fee to the lender. Paying now lowers the long-term interest due and affords substantial savings over the lifetime of the loan. Paying points makes particular sense when a borrower enjoys a relatively high salary and discretionary savings at the time of loan issuance, and feels unsure of what his or her employment situation will be a few years down the road. To determine the optimal number of points to buy, carefully examine the interest rate and point combinations offered under the loan terms. Work with a mortgage partner, such as Equity Direct Funding, may result in finding a payment strategy in which ensures substantially lower interest rates.

    Another payment-lowering strategy is eliminating private mortgage insurance (PMI) through carefully monitored home value and principal payment history. Lenders are required by law to cancel PMI automatically when a loan balance falls below 78 percent of the purchase price. However, borrowers can generally request PMI cancellation once they achieve a 20 percent equity threshold. Even if a home owner has not paid down much principal on a home loan, he or she may have reached the 20 percent equity level simply through housing value increases. With the property market bottoming out, we may be at the start of an upward real estate trend that could make this strategy viable. Learn more about how our qualified brokers can help you maximize mortgage savings by visiting Equity Direct Funding online at www.equitydirectfunding.com.