Atlantic Coast Mortgage Partners With NFTYDoor To Offer Digital Home Equity Loans

MCLEAN, Va., Aug. 23, 2022 /PRNewswire/ -- Atlantic Coast Mortgage (ACM), a mortgage lender in 24 states, is launching NFTYDoor's home equity product to its customers.

In 2021, interest rates were under 3.0%, which led to a strong purchase market, and a historic refinance boom. Now just over the last year, interest rates have doubled, which makes cash-out refinances less economical for many homeowners.

"We are always looking for the best products for our loan officers to share with their customers," said Patrick Collins, Chief Strategy Officer of ACM. "Homeowners need an efficient way to tap equity."

The most common uses for home equity are home improvement, financing a car or tuition, and debt consolidation from high APR consumer loans or credit cards. Understanding the significant value equity offers to homeowners is why ACM has chosen to incorporate NFTYDoor into their evolving line of product offerings to allow homeowners the ability to leverage their tappable equity to increase both their short and long-term financial goals.

"ACM is a strong brand with loyal customers, which is why our platform is a perfect fit for them," said Mark Schacknies, CEO and Co-Founder of NFTYDoor. "The efficiency of our application and underwriting not only lead to a better customer experience but also provides a timely program for our partner."

Utilizing NFTYDoor, homeowners can access $25,000 to $250,000 of their home's equity with a 25-year fixed-rate term after completing a simple digital application. The underwriting, closing, funding, and servicing process is fully digital. 

ACM, a Virginia limited liability company and licensed mortgage lender headquartered in Fairfax, Virginia, is primarily engaged in the origination of 1-4 family residential mortgage loans and construction loans. ACM was founded in 2011 and is led by a team of seasoned mortgage professionals, including the Chief Executive Officer, Timur Tunador, who is a founder of ACM and has almost 30 years of mortgage banking experience. ACM is headquartered and licensed in the Commonwealth of Virginia and is also licensed in 23 other states. Including its headquarters in Fairfax, VA, ACM currently has 15 branches located in Virginia, Maryland, the District of Columbia, Florida, North Carolina, and South Carolina. 

Virginia-based NFTYDoor LLC, a digital mortgage lender (NMLS 2324343), provides home equity loans via bank and non-bank lender partners. NFTYDoor is licensed in Virginia, Maryland, DC, Illinois, and Florida, with plans to go nationwide in its first year of operation.

NFTYDoor Media Contact
Mark Schacknies, CEO
[email protected]
844-975-5150

SOURCE NFTYDoor LLC