Is A Reverse Mortgage Right For You? Find Out...


Did you know that, as a senior, you can use a reverse mortgage as a tool in your financial planning? Here are loan benefits you can enjoy when you supplement your retirement income with a reverse mortgage:

You Still Own Your Home.

Some people believe that a lender takes ownership of your home in a reverse mortgage. This is false. You remain the owner as long as you comply with the loan conditions.

No Monthly Payments.

In a reverse mortgage, payments are given to you as long as you live in your home. There are no monthly payments like those in a traditional loan. The loan is repaid when you sell your home or move to another primary residence.

Government Insured.

Have peace of mind that federal insurance covers your loan.

Enjoy Several Disbursement Options.

You can choose to receive funds in total, partial sum, line of credit, monthly payments, or a combination of any of these options.

Interest Rates Have Increased

Borrowers May Not Qualify

Due to DTI Calculation

Time To Consider

NO RATIO PROGRAM

No DTI calculation

No Income on Application

No Employment on Application

No Tax Returns

No W2s

No 1099

Only Required to Have

as low as 20% Down Payment

80% LTV = 720+ FICO - 12 Months Reserves

75% LTV = 680-719 FICO - 9 Months Reserves

65% LTV = 660-679 FICO - 9 Months Reserves

Funds for Down Payment

Closing Costs

Prepaid’s

Reserves

Primary Residence

Second Home

Purchase

Refinance

Minimum Loan $200,000



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