Mortgage Loan Options

Real Deal Preapproval

The first step in your home buying process is to get preapproved. By getting our Real Deal Preapproval, you can shop for a home with confidence knowing our program is one of the most credible preapprovals in the marketplace. Here’s what makes our program better: 

• We underwrite our preapprovals, so you know exactly how much you can afford
• Real estate agents recognize an Equitable preapproval as one of the most reliable and accurate preapprovals in the area 
• Our reputation gives offers from The Equitable Bank creditability when competing with other buyers.
• Our process is quick, and you can get preapproved within 24 hours (during regular business days).
• There is no cost to get a Real Deal Preapproval.

Fixed Rate

The interest rate will not change throughout the entire life of a fixed rate loan. This is a good option if you’re buying a home that you plan to stay in for a long period of time. A fixed rate mortgage means you’ll get:

Benefits:

• A fixed rate for the life of the loan regardless of the repayment term, from 10 to 30 years
• Choice of multiple fixed rate mortgage programs
• Competitive interest rates
• Option for no closing costs.

Adjustable Rate Mortgage (ARM)

An adjustable rate mortgage means the interest rate can change during the life of the loan. With a lower initial rate, this makes it an excellent option if you are not planning to stay in the home for more than a few years. An ARM loan means you’ll get:

Benefits:

• A lower initial rate which may qualify you for a larger loan amount
• Choice of the length of the repayment term and first adjustment period
• Competitive interest rates
• Option for no closing costs

Federal Housing Administration (FHA)

An FHA loan is backed by the federal government and allows for a lower down payment. It is the perfect choice for those who are buying their first home or those looking to refinance out of an adjustable rate into a fixed rate.* This loan option offers: 

Benefits:

• Low rate fixed financing
• Low down payment
• Low closing costs
• Flexible credit guidelines
• Competitive interest rates

Contact one of our expert Loan Officers for more details on this product

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* Loan amount must be within the FHA lending limits for your county and property type.

Veterans Affairs (VA)

The Equitable Bank is proud to offer a mortgage program for qualified veterans of the Armed Services, those on active duty, reservists, and spouses of a veteran. A VA loan offers all the following benefits:

Benefits:

• A low or no down payment
• Competitive interest rates
• Multiple repayment options
• A maximum loan up to 100% of the property value
• No monthly mortgage insurance premium

  Contact one of our expert Loan Officers for more details on this product

New Home Construction

Building a home gives you the ability to customize a house that fits you and your family’s needs, that you may not find in the current housing market. However, the process could present different challenges. Our expert loan officers are here to help along the way with a construction loan program designed to give our customers a positive building experience that will save them both time and money:

Benefits:

• One closing and one set of closing costs
• A single construction loan
• Low monthly payments throughout the construction process
• Competitive interest rates

Contact one of our expert Loan Officers for more details on this product

Renovation Mortgage

Many people love the idea of a good project. They like the freedom to be able to transform their space into something just for them. Whether you want to purchase a fixer-upper home or refinance your current house to fund a renovation, our renovation mortgage loan is a great option. This program offers:

Benefits:

• Ability to use funds for both refinances or purchases
• Option to use with an Equitable bank ARM program
• A single set of closing costs
• Competitive interest rates
• A method to finance a renovation without a second mortgage
• Up to 95% Loan-To-Value of the appraised value at completion

Contact one of our expert Loan Officers for more details on this product

First-Time Homebuyer

At the Equitable Bank, we have built our reputation on helping families in southeastern Wisconsin fulfill the dream of homeownership. Being a first-time homebuyer is exciting, but it can also be overwhelming. That is why The Equitable Bank Community Lenders will walk you through the entire process, ensuring a rewarding experience. 

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Home Equity Loans

With a low fixed rate loan, you can have the certainty of fixed monthly payments at a fixed rate. Funds are available all at once and you will make regular installments over the life of the loan.

Home Equity Lines of Credit (HELOC)

Our low variable rate lines of credit have long terms and interest-only payment options. You can establish a line of credit and draw funds only as needed.

Down Payment Assistance & Homebuyer Education

The Equitable Bank participates in several down payment assistance programs that help income-eligible buyers receive funds that assist with down payment and closing costs.

• FHLBC DPP Grant up to $10,000
• Home Consortium DPA up to $10,000

We work with many area community groups to provide homebuyer education, which is required for most down payment assistance programs.

HomeReady/Home Possible

Special loan programs designed to help low to moderate creditworthy borrowers. Borrowers can become eligible depending on the property’s location and income limit. Affordable loans with as little as 3% down payment for owner occupied properties.

Credit Builder Loan Program

The Credit Builder Loan from The Equitable Bank is designed to help anyone with no credit or with credit problems to re-establish positive credit history. It's also a great option for those looking to saving for a large purchase or a down payment on a new home.

How does it work?

We will lend you a set amount of money ($500 or more, based on your financial situation) to put into an interest-earning certificate of deposit (CD) in your name. Each month you pay back the amount of the loan plus interest. We report to the credit bureau how you handle your loan payments each month. If you make your monthly payments on time you will build a positive credit rating, all while saving money for yourself.

Community Groups

• Housing Resources Inc.
• United Community Center
• ACTS Housing Inc.
• ACTS Housing Inc. QR Code

Veron Gray

NMLS ID# 491622 705 East Silver Spring Drive Whitefish Bay, WI 53217 414.587.3663 Email Veron

Customer Philosophy It is important that my customers understand the mortgage process and I will always work for their best interest. Customer Comments “Veron was very professional and worked with me through this loan buying process for 2.5 years.  Thank you Veron for all your hard work and encouragement.” "I met Veron Gray at a first time home buyers seminar (WHEDA) in 2008, she has always been helpful through the years.  I have been a customer since 2008, and my experience has been positive. Every one has been helpful, professional and friendly." Years of Experience: 22 years My expertise is first time home buyers and grant programs. I love helping people realize their dream of owning a home! Apply With Veron

Gail Milani

Mario Monterrey