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Considering a Reverse Mortgage? |
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We are here to help you learn everything you need to know about reverse mortgages. It is our job to assist you in finding the right mortgage lender as well as teach you how you can secure your future well past retirement through the equity in your home. My Reverse Mortgage Pro is dedicated to helping those who want to learn about reverse mortgages. Our qualified consultants can provide the information and guidance that you need to turn your home into a source of income and security well into retirement.
For homeowners over the age of 62, a reverse mortgage can be a steady source of income. Even though most Americans continue to work well into their 60s, it is never too soon to start preparing for your future. As we reach retirement, managing finances can become difficult if some basic precautions are not taken.
Benefits to reverse mortgage include:
:: Tapping into your home equity when you can best enjoy it.
:: No monthly payments until you pass away or move from home.
:: Monthly payments are made to you.
:: Loan counseling to ensure that you understand the reverse mortgage process before
you enter into a loan.
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Reverse Mortgages 101 |
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A Reverse Mortgage is a specifically dedicated loan, designed for homeowners 62 and over. This program allows you to borrow money from yourself that has accumulated in the equity in your home. Considering that you are lending yourself money, there is no monthly payment required on your loan.
In 1989 the Department of Housing and Urban Development created the HUD Reverse Mortgage Loan to assist qualified seniors in maintaining their independence. Since that time, many lending institutions have created a more diversified mix of reverse mortgage products to accommodate the varying needs of seniors. Each of these loan products are based on your age and home value. To get a free home valuation, please click (Free Home Evaluation).
Reverse mortgage loan products vary slightly according to interest rate and the amount of equity in your home. Reverse Mortgage loans are safe and comply with the same basic standards as set forth by HUD. Each of these products offer the homeowner an interview with an outside HUD approved counselor prior to completing a reverse mortgage. The interview is arranged to make certain that you have a thorough understanding of the reverse mortgage loan process.
To date, we have helped thousands of Americans take advantage of qualified reverse mortgage loan. Our network of qualified and experience reverse mortgage loan consultants are available to answer any questions related to your interest in obtaining a reverse mortgage. To speak with one of network of experts, please fill in the attached contact form. One of our experts will be in contact immediately.
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How much can you borrow? |
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To determine the amount that you may be eligible to borrow through a reverse mortgage loan, you will need to determine the available equity in your property. Determining equity is as simple as deducting what you owe on the property from the current market value.
My Reverse Mortgage Pro is pleased to offer a free home valuation tool that will assist you in determining the value of your home. Please enter your specific property to determine your home value and available equity.
(Free Home Evaluation)
Qualifying for a reverse mortgage loan is entirely about A&E, Age and Equity. If you are age 62 plus, own your home and have equity from which to lend, you may be a great candidate for a reverse mortgage.
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