EquityMax does not require our borrowers to be a Corporation of LLC. We can originate loans to individuals, LLCs, Corporations, Land Trusts, and Self-Directed IRAs.
EquityMax welcomes the opportunity to be competitive with the loan terms of other lenders. Feel free to bring us any competitor’s’ loan terms, and EquityMax will do our best to match or beat them! To learn more about our rates/terms, visit our Resources page.
Yes. EquityMax has multiple borrowers with several active loans in our portfolio.
Yes, any borrower is free to assume a mortgage currently held by one of our borrowers.
EquityMax sends out anywhere from 50-100 properties a week to our subscribers. To join, click here. If you don’t see a viable investment property on our lists, EquityMax can find you a property that fits your specifications.
Yes. We actively encourage investors to seek out STR opportunities for financing from our company.
EquityMax does not require appraisals as part of our due diligence. If the property is local to the South Florida, Tri-County Area (Dade, Broward, Palm Beach), we will perform a basic walk-through inspection. If the property is outside of this region, we will hire a local Realtor in the county where the subject property is located to perform a BPO a/k/a Broker’s Price Opinion.
EquityMax does require personal guarantees. The one exception is a loan made to a Self-Directed IRA, where by law, the loan must be a non-recourse loan.
EquityMax sends out lists of properties for sale – complete with address, pictures, and pertinent details – at least 5x each week. Overall, you can expect to receive anywhere from 50-100 listings for immediate purchase.
If a borrower approaches us with an updated title commitment and municipal lien/permit search, EquityMax can fund in 24-48 hours. If a lien search and title commitment have not been ordered, this often takes the municipality and underwriter about 5 working days to complete, at which point we can close within 2 days of receiving these documents.
All Loan Originators will be paid on the HUD per written agreement made with the client. Realtors and other service professionals will be paid for services rendered (i.e. BPO, Inspection, Consulting) per written agreement made with the client and/or EquityMax.
In all cases, we will need a copy of the borrower’s three-score credit report as well as the executed contract for all purchase loans. All Loan Originators must submit an LO and client-executed 1003 as well.
I currently have a first mortgage, but my property has equity. Can I still obtain a loan from EquityMax?
EquityMax does not offer second position loans, however, we can still help. EquityMax can offer you a sufficient loan, wherein the new principal balance will pay off your existing mortgage balance while providing you with the desired “cash out” you are seeking.
EquityMax does not charge a prepayment penalty, assuming that borrower’s make their monthly payments on-time.
EquityMax can send a borrower a Proof of Funds within 5 minutes of receipt of an acceptable, three-score credit report. If a borrower does not have a recent report, he/she can request that Equitymax pull it. For instructions, please click here.
EquityMax does not have a minimum credit requirement. We can offer all borrowers a loan, regardless of credit score or past/current credit history.
Our due diligence entails reviewing a borrower’s three-score credit report and performing a BPO. We do not require review of any financial statements (i.e. tax returns, bank statements, etc..), nor do we require a formal appraisal. Depending on whether we are in receipt of the lien search and/or title commitment, underwriting can take anywhere from 1-5 days.
EquityMax requires insurance with Fire and Theft coverages only for a minimum period of 6 months. We do NOT require windstorm, flood, liability, or builder’s risk coverages.
EquityMax lends on any form of residential property, including single family homes, 1-4 multi-unit properties, condominiums & townhomes, and even small apartment complexes (20 units or less). We also lend on commercial property and industrial warehouses.
EquityMax prides itself in being a lender that only lends its own personal funds. We do not carry any bank lines, debt facilities, or require outside investors to originate and fund our borrowers.
Besides our flagship loan programs in Florida, EquityMax also lends throughout the United States. We look forward to competitively financing your deals in Georgia, Alabama, South Carolina, North Carolina, Tennessee, and throughout the rest of the country.
EquityMax services all of our mortgages in house. We do not outsource this task to a third-party.