Did you know that you may have the option to stay in your home, not make another mortgage payment, and collect additional monthly income? The comfort of not moving from your home is one of the major driving factors for people to choose a reverse mortgage loan. Get peace of mind today!
Whether it’s time to downsize, relocate, or simply find a new view, you may change your primary residence without a penny in down payment. As long as you can afford the home’s property taxes, insurance premiums, HOA dues (if applicable) and any other ongoing property costs, you may be able to live in that penthouse condo after all!
Finding discretionary income every month can be difficult. It’s comforting to cover all the bills, but what about the fun?! It’s time to dream again, and a reverse mortgage loan may just be able to help you with that.
Regardless of your reasons for choosing a reverse mortgage loan, everyone’s path to it is the same.
OR READ OUR DETAILED PAPER...
If you’re asking…
- How is a reverse mortgage loan different from a regular mortgage?
- What if I currently have a regular mortgage?
- What if I decide later to sell my home?
The Consumer Financial Protection Bureau is a non-biased government agency. Download their detailed paper to learn the answers to these questions and more!
You Gather The Documents & We'll Do The Application
Applying for a reverse mortgage is as simple as making a phone call. Your loan professional will ensure you have all necessary documents. Some items to have ready are:
- Proof of Income
- Asset Statements
- State Issued ID
- Social Security Card
- Homeowner’s Policy
Having these items handy will help the process move along easier.
We Will Schedule A Home Value Estimate
Your loan professional will schedule an appraisal of your property for a fair estimate of the loan amount available to you.
VIOLA! You Can Sign
You will be contacted to set a time to sign the final loan documents. Then, you will have three days to decide if you want to cancel the loan. After that waiting period, your funds will be disbursed per the terms.