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Our Services |
Reverse Mortgage Seminars
Want to learn more about Reverse Mortgages? Come join us for a FREE Informational Seminar. The Reverse Mortgage is a Government insured program, and you must be 62 or older to qualify. If you live in the South Sound, come join us and learn how to supplement your income, eliminate your mortgage payment, increase your monthly cash flow, while retaining full ownership of your home.
Benefits of a Reverse Mortgage
- You can pay off your existing mortgage
- You can have tax free income
- You will continue to maintain the title to your home
- You and your heirs still keep all remaining equity
- You never make monthly payments(the lender pays you)
- There are no up-front out of pocket loan costs(they are included in the loan)
- Your Reverse Mortgage income will not affect your Social Security or Medicare benefits
- There are no restrictions on how you spend the money
- Your cash is distributed to you to suit your needs and lifestyle
- Reverse Mortgages are FHA insured and regulated
- You repay the loan at any time, without prepayment penalty
- You will never have to repay more than your home's value
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| Eligibility |
- Homeowners at least 62 years of age
- Adequate equity in your home (Your home does not need to be paid off)
- Single family homes, qualified condominiums and 2-4 unit owner-occupied residences
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| Cash Available, Payment Options, Interest Rates & Costs |
- Fixed and variable rates are available
- Closing costs and fees can be included in the loan and you don't have to pay anything upfront except for HUD counseling
- Reverse Mortgage proceeds are calculated based on interest rate, the age of the youngest borrower and appraised value
- Reverse Mortgage loan proceeds are available in lump sum, line of credit, monthly disbursements, or a combination
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