Homeowners 62 and over are reporting high satisfaction with RM's nationwide. If you own your home or have substantial equity, qualifying may be easier than you think. Read on to learn about the many benefits and many misconceptions of Reverse Mortgages
The reverse mortgage market can be a sea of confusion and complex language or a beacon of hope and financial comfort.
Call or email us today and allow us the opportunity to give you the right information in a timely manner to deliver on your reverse mortgage loan needs.
Today more than ever, seniors are faced with a complex myriad of financial products and home loan programs. The Reverse Mortgage, also known as a Home Equity Conversion Mortgage (HECM), certainly falls into that category. Although more and more American seniors are discovering the benefits of a Reverse Mortgage, the process can be a daunting and discouraging one without the proper counseling and education from the right lending partner.
Today’s technologies can often take the ‘human element’ out of the home lending process. We believe the most important aspect of home loan lending is the trusted and transparent relationship built with our customers. Our systems are built on handshakes and live voices, not robots and auto-fill forms.
Our goal is to deliver the best possible loan experience for you in hopes that you will be encouraged and confident to share our company with family and friends in the future.
A reverse mortgage in it’s basic form is an equity loan secured by your home which allows the deferment of mortgage payments until a future event. Created in 1988 by the Federal Housing Administration (FHA), the reverse mortgage like it’s name implies allows homeowners 62 years or older to take advantage of the home’s equity without the need for mortgage payments until the loan reaches maturity. As long as the homeowner occupies the property and pays their property taxes and insurance, they can leverage the homes equity payment free.
There are multiple options on how to gain access to the home’s equity, and we are here to educate you and explore all of the options so you and your family can make an informed decision on whether a reverse mortgage will work in your favor.
Although there are multiple options to a HECM, a reverse mortgage is truly a one-of-a-kind loan. We love meeting and speaking with our senior community, our nation’s most beloved generation, and helping them learn more about this dynamic and helpful financial product. Call the number above or email us with a best time to contact you and one of our expert program advisors will reach out to open a friendly, no obligation consultation to see if a reverse mortgage is right for you.
Also see our Learn More page for more information about reverse mortgage facts, figures, and myths
You are able to access the equity within your home as long as you stay in your home and meet the RM guidelines
As long as you meet the minimum loan requirements of the RM, you get to keep and stay in your home for your entire life
You nor your heirs will ever owe more than the home is worth. This is guaranteed in writing by HUD/FHA
Withdrawal of loan proceeds from a RM is tax free and if the borrower elects to repay any portion of the loan, they may be tax deductible
When you meet the minimum loan requirements, you are not required to make a payment as long as you live or until you leave your home
Use your RM loan proceeds to payoff debt or other mortgages, make home improvements, pay monthly living expenses, or for any other reason. You have full control over the use of funds
The RM offers 6 options in accessing the equity in your home. From monthly installment payments to you, to a line of credit, to a lump sum withdrawal, or a combination of these, the RM provides many choices to meet your needs now or in the future
It should be noted that a Reverse Mortgage can be a complex transaction and as part of the HUD/FHA requirements, a mandatory counseling session will be scheduled with a certified RM advisor in order to provide answers to any and all questions you have. Our goal is not only to offer you best-in-class customer service, but to give you all the options and information to make the best choice for you and your family. Give us a call today and let us help you on the path towards a better financial future.
Shellie has been helping families with their home finance needs for almost 30 years. She has managed to maintain the old school personal touch so lacking in today’s troubled Mortgage industry. In a world of fast paced, impersonal technology, Shellie, unlike others, takes the time to really listen to her customers, because she truly cares, and then tailors the perfect program to fit their individual needs. It is this dedication, and care for everyone’s best interests that truly make working with VFI feel like a family affair. Shellie, and her support staff, treats all as if they are their own Mom, Dad, Sister or Brother. It is this intense dedication to client satisfaction that has enabled Shellie customer retention and a referral base almost triple industry standards. In her spare time when not helping Folks with their finance needs and earning lifelong friends, Shellie is an avid horse enthusiast, accomplished equestrian, and an award winning endurance rider.