Looking for a Mortgage or Refi? Equity Resources Has Just What You Need

The thought of getting a mortgage for a new home or refinancing your current home can be daunting. Where do you begin? Who do you talk to? What kinds of information will you need to provide? The questions are endless. But the process doesn’t have to overwhelm you. Finding the right lender can be the key to a smooth transaction.

For over 25 years, Equity Resources, Inc. has been educating and serving its clients with the highest degree of quality and care. Ed Moloney, who operates the Falmouth office, credits the success of the company to word of mouth.

“We literally have hundreds of positive reviews from past and returning clients on LinkedIn and Zillow,” he said. “Equity Resources is not a small company. We fund $1.3 billion, and we’re a family-owned business that has survived the test of time, has all the pieces, and has entered the new age of online applications.”

A mortgage banker (not to be confused with a broker) controls underwriting, funds the loans, and is in control of the entire process, he said. “Sometimes we hold and service our loans, and sometimes we sell them. Often, when people go to a brick and mortar bank, they’re only offered one product and that’s it. Here, we focus on educating the client and finding the best product for them.”

Moloney, who has been in the lending business himself for 16 years and is licensed in both Massachusetts and New Hampshire, left a good career with another company when it was sold to a “megastore.” He decided to work with Equity Resources for a number of reasons.

“(Equity Resources) is a mortgage banker, it underwrites, and it does everything on its own here,” Moloney said. “They believe in a book called ‘Raving Fans’ (Raving Fans: A Revolutionary Approach to Customer Service), which I absolutely swear by. I have a dedicated team – a processor and sales assistant, and two underwriters that pretty much only touch my files. Why is this important? Because I believe we all sell the same interest rate. It’s about the customer service and the experience. I live and die by this.”

Moloney specializes in educating borrowers and ensuring they are premium buyers. In cases of refinancing, he goes over all options, both pros and cons, with the clients. All loans are underwritten in-house, which leads to having many available options for each individual buyer. “We are the best of both worlds,” Moloney said. “We have all the investors but we keep all the control.”

Many potential borrowers can get hung up on rate, and finding the lowest one. That’s where education comes in, he added.

“I get lots of callers asking ‘What’s your rate?’ In my opinion, I feel that, after people do their research, they’re going to find that most companies’ rates are within an eighth of a percent of each other. Sometimes, people will say an online bank claims their rate is lower. I tell them let’s take a look at the estimated costs. I believe a good deal is really determined by the market and what someone’s needs are. I also believe a good deal is really the quality of service and education.”

Additionally, he said, while the rate is important, it’s not the only item to be considered when shopping for a mortgage. It’s important to understand what drives the rate – the market, your credit score and your loan-to-value.

Another reason Moloney joined Equity Resources is because of the quality of service. “They’re working with me. If you were to go on Zillow, you’ll see the reviews. Read what they say. My follow up is second to none, I have a no-push approach, and it’s all about education. Are we going to be competitive on rate and closing costs? Absolutely! If I weren’t, I couldn’t be in this business. But it’s also about making sure the client understands the programs, and that happens by educating them.”

However, he said, he and his team still do some things in the ‘old school.’

“We send each client an American flag for their new house 30 days after closing. We do a printed newsletter for our clients, we do contests. During the buying or refinancing process, they get a letter from us, and inside is a bag of popcorn and a note in which we tell them, ‘Don’t worry, have some popcorn; we’ve got this’.”

Equity Resources, Inc. offers programs for first-time buyers, second home buyers, credit challenged buyers, Jumbo buyers and also a great deal of refinance options, Moloney said. As a mortgage lender, the company has many investors and this ensures they can provide clients with the best mortgage options, as well as competitive rates and closing costs.

Moloney said he and Equity Resources will always have the clients’ best interest at heart and they will go above and beyond to make sure to find the best mortgage program that meets each client’s needs.

For more information about Ed Moloney and Equity Resources, please visit www.callequitymortgages.com/ed-moloney

Edward Moloney
Equity Resources, Inc.
465 E Falmouth Hwy Ste B, East Falmouth, MA 02536
(774) 573-0329
Corporate NMLS: 1579, Edward Moloney NMLS: 10321

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About Ann Luongo

Ann Luongo is the Marketing Writer and Lifestyle Reporter for CapeCod.com, and has been writing for Cape Cod and South Shore publications for over 15 years.

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