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Equity Mortgage (Equity Lending)

A mortgage where approval is based predominately on the amount of equity in a property, and its marketability.

Traditional income confirmation is usually not required.

Prime lenders also rely on the applicant’s credit history and score. Non-prime lenders don’t care as much about the applicant’s credit history.

Equity lending is more risky. Therefore, loan-to-values rarely exceed 75-80%.