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Michael Carvajal

Mortgage Loan Originator

Manahawkin- New Jersey

NMLS- 214865

States Licensed: Florida, Georgia, Maryland, Michigan, New Jersey, New York, North Carolina, Pennsylvania

Mike Carvajal is a licensed mortgage loan originator with Equity Prime Mortgage, a direct seller-servicer of Fannie Mae, Freddie Mac and Ginnie Mae mortgages. A graduate of Mount Saint Mary's University, Mike has been a nationally-ranked, top-producing loan originator for over 16 years. His tenacity, work ethic, and ability to think outside of the box have been pivotal in his success. As the son of a cancer survivor, Mike is an active fundraiser for several local nonprofit organizations, including David's Dream and Believe Cancer Foundation, an organization dedicated to supporting patients and families affected by the devastation of cancer. In his spare time, he can be found surfing, snowboarding, skateboarding, and spending time with his wife and two children. License info: I-152380 - NC Mortgage Loan Originator License 631113 - NJ Mortgage Loan Originator License 37803 - PA Mortgage Originator License

EPM Mortgage Products

Equity Prime Mortgage offers a wide variety of products to help you purchase or refinance your home. Licensed in 49 states, we are dedicated to bringing you access to the most diverse array of home lending products available in the industry. 

Conventional Loans

Conventional loans are loans that are not insured by the federal government. The borrower must have good credit, sustained employment, and income history, and be able to put down at least 3% of the total loan.

If putting down less than 20%, most lenders require PMI or Private Mortgage Insurance to be able to recover in a situation of default. Some lenders do have conventional loans a low down payment and no private mortgage insurance.

FHA Loans

FHA Loans or Government-Insured Federal Housing Administration Loans are often times used for low-to-median-income buyers when buying their first property when they cannot qualify for a conventional loan.

You can put down as little as 3.5% and these loans usually have more lenient credit-score requirements. All FHA borrowers pay an upfront and annual mortgage insurance premium (MIP) which is an insurance policy for the lender backed by the federal government.

VA Loans

VA Loans are loans insured by the U.S. Department of Veterans Affairs (VA) and are a guaranteed home buyer loan for military service members, veterans, and their spouses. Borrowers can finance up to 100% of the loan amount without a required down payment.

These loans usually have lower interest rates, lower closing costs, and no PMI or MIP is necessary. VA loans may require a funding fee however, some do not and the fee varies based on service category and loan amount.

Jumbo Loans

Loans over $548,250, which is the conforming loan limit for a one-unit property, are considered jumbo loans. Some lenders classify jumbo loans as riskier and so, will require documentation of larger cash reserves, a strong credit score, and a down payment between 10-20%.

Bank Statement Loans

This loan program is ideal for buyers that earn seasonal income, are independent contractors, or are self-employed. Working with your information on bank statements and other documentation, we are able to lend based on your income.

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