Reverse Mortgage

Federally Insured Reverse Mortgages

A reverse mortgage provides a secure method for seniors to really retire—eliminating mortgage
payments and providing monthly income, all while they stay in their home.

The FHA Equity Conversion mortgage
A reverse mortgage is a loan against your home that you don’t have to pay back as long as you live in the home. With a reverse mortgage you can turn the value of your home into cash without having to move or make monthly mortgage payments. If you are 62 years of age, and own your home, you are eligible for this loan regardless of your income or credit status, even if you currently have a mortgage on your home.

No more mortgage payments
Once you close your loan, there will be no more
monthly payments to send in. In fact, the taxes and insurance will be paid through the mortgage company each year as well.

Receive monthly income or a lump sum
You choose how and when you spend your home equity. You can choose to receive cash, or a steady monthly check, or a line of credit for future needs—or any combination of these options.

Stay in your home as long as you like
You will still be the owner on the title to your home, and you will have a mortgage that will need to be paid off when you move, sell the home or pass away.  What happens when the home is sold?  When you move or pass away, the mortgage on the home will need to be paid off (either through a sale or a refinance.)  Just as with a traditional mortgage, any remaining equity will be available to you or your family.

Provident advice and honest rates amd fees
This decision is not to be made lightly. We can explain your options in detail and will be happy to work with you to make sure you and your family understand all of the details. Your comfort and well-being are important to us, and we’ll work with you to help you make a provident decision.

Communication
Our state of the art technology sends you real-time updates on loan status.  As soon as an event such as an appraisal, underwriting decision, or funding has been recorded in our system, you will be notified.  No more wondering about the status of your loan!  We also value the old-fashioned technique of answering the phone when you call!

Guaranteed good faith estimates mean happy closings!
Contrary to popular belief, a loan officer does have the ability to accurately predict closing costs.  We are the first  in the industry to guarantee our good faith estimates in writing!  This means that if your loan is approved as quoted, the closing costs will be within 10% of our initial quote or we will pay the difference.  In truth, we have been operating this way for years—with or without a written guarantee.

Click here to get pre-approved