Reverse Mortgage Loans
Retirement should come with financial peace of mind. Since many people are living longer than expected, it’s important that you plan for this. This will allow you to live the retirement you always wanted.
Pay down existing debt
No monthly mortgage payment (you still pay taxes and homeowners insurance, and must maintain your home)
Improved quality of life
You are covered in case of an emergency
No personal liability
Ways You Can Access Your Home Equity
Lump sum of money at closing
Take what you need when you need it
Fixed monthly amount for life or a specific term selected by you
A combination of the above options
The tax-fee money you receive from your reverse mortgage loan is not treated as income so there are no taxes to pay. Use this money any way that suits your needs.
Pay for basic living expenses
Pay your property taxes and insurance, and maintain your home
Purchase long-term care insurance
Pay for medical expenses not covered by insurance
Help finance your grandchildren's education
Make improvements to your home
You Maintain Ownership Of Your Home
You keep all ownership rights, so any appreciation in your home belongs to you. Your responsibilities include occupying the home as your primary residence, paying taxes, insurance, and maintaining your property. In many cases, despite the interest being charged on the outstanding balance of a reverse mortgage, your equity in your property actually grows over time. This is possible because interest is only charged on the outstanding balance of the loan, whereas the rate of appreciation of property values operates on the full value of your home. You must comply with the loan terms, including paying your taxes, insurance, and maintaining your home or the lender may call your loan due.
Just like any other secured mortgage loan, the lender will place a lien on your home.
How Much Money Can You Get?
This depends on your age, value of your home, your current loan balance, and current interest rates. Call us at 602-353-7744 and we’ll let you know after we gather a little more information.
Don't wait! Find out about your options today!
Our Happy Clients
"Brad, I wanted to let you know how impressed I was with you and your company. Even though I was ready to refinance, you took the time necessary to educate me on why it may be best to wait. It's not every day that you meet a professional who puts their customers needs ahead of their own. When the time is right based on the circumstances we discussed, I'll be back for sure."
"I just wanted to thank you for constantly following up with me. The last time I refinanced it seemed as if I always had to follow up with the mortgage company. Thanks for staying on top of everything and keeping things moving forward."
"I called Mortgage Experts based off an ad I saw on the internet. From the moment that Brad and I spoke, I felt at ease. He is a straight shooter, kept me informed throughout the loan, and even showed up to my closing to make sure that everything went smooth (and it did). I would definitely work with Brad and his team again."