Home Equity Quiz helps you find home purchase and mortgage refinancing loans from a variety of lenders. They offer FHA and VA loans as well.
Terms and requirements will be according to the lender you choose.
Mortgage Requirements
Mortgages and refinancing loans have a long list of requirements since you are taking out a massive amount of money over a long period of time. Anyone US citizens aged 18 and older can get a mortgage, but some resident non-citizens can too.
Additionally, you generally need good credit, stable income, and low debt levels relative to that income — especially if you hope to get the best rates.
Lastly, down payments generally must be 20% on mortgages to avoid paying private mortgage insurance (PMI). FHA loans only ask for 3.5% down, while VA loans require no down payment.
Since Home Equity Quiz is a marketplace with a vast number of partners, we can’t determine exact numbers for credit score and debt-to-income ratio.
Mortgage Terms
HomeEquityQuiz only offers traditional, FHA, and VA mortgages and mortgage refinancing loans.
It’s impossible to give a range of APRs and loan amounts on these loans, given the over 200 partners.
Repayment Terms
Repayment terms vary. Fixed-rate mortgages come in terms of 10, 15, 20, 30, and 40 years. Variable-rate ARMs come with terms of 1, 3, 5, 7, or 10 years. Variable-rate, interest-only ARMs are at 3, 5, or 7 years.
The type of loan you get depends on which type you said you were looking for while taking the quiz.
