Monthly Archives: May 2019

Other HECM Benefits

HECM2

This video addresses the most common benefits that we hear our borrowers are looking for while obtaining a new Reverse Mortgage.  To view our short video click here.

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Take the HECM Challenge

HECM Challenge

What is a better option for borrowers with a minimum age of 6o years of age.  To take the HECM challenge click here.

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HECM Purchase Mortgage

HECM Purchase

Most people to not know a Reverse Mortgage can be used to purchase a new home.  For borrowers with a minimum age for 60 years have purchase options that historically where not offered.  To view our short video click here.

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Discover The Benefits Of A Reverse Mortgage

HECM The benefits for a HECM or aka Reverse Mortgage can be huge for home owners that have little income for their retirement years.  Today’s Reverse Mortgages allow the home owner to retain ownership and removes the requirement to make a monthly house payment.  You have multiple Reverse Mortgage programs to choose from today.  Some offer credit lines that grow over time regardless of the homes value.  Other programs allow for a Reverse Mortgage on condo or PUD properties that are not FHA approved.  There is also a program that allows for Reverse Mortgages with loan amounts up to four million dollars.  Not every Lender offers these programs so it is important to work with a Lender that has multiple options.  To view our video on HECM benefits click here.

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It is Not Always About The Rate

RateMost people will tell you the rate is everything.  In some cases that is correct but it does not tell the full story.  If you consider what is the monthly payment and does it fit within your monthly budget?  It is the payment you pay out monthly that you feel.  There are multiple programs available that offer considerable monthly payment savings with long term fixed terms.  To see the short video click here.

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What does C.T.C. mean?

CTC The term C.T.C. is a huge milestone as you are almost done.  The term C.T.C. means your loan is “Clear To Close.”  This means it is time for the Lender to order your loan docs.  To view our short video click here.

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What is PMI

PMI

PMI commonly know as Private Mortgage Insurance is to protect the and not the borrower or you.  Lenders do not want to approve a loan with a LTV greater than 80% without mortgage insurance of some type.  To view our short video click here.

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