Reverse Mortgage Credit Score Requirements What are the reverse mortgage credit score requirements? Have you begun investigating reverse mortgage information? If so, you may be wondering what the reverse mortgage credit score requirements are. One of the pros of reverse mortgage is that it is easier to qualify compared to a traditional mortgage. If you’re […]
For the most part, getting a reverse mortgage in California is just like any other state. That said, the reverse mortgage process IS slightly different than it is in other parts of the country.
Many older homeowners are not aware of the HECM Purchase Program. If you’re thinking about buying a home and paying cash, you may want to consider using a HECM for Purchase Loan. First, we will go over the very basics of a HECM (AKA Reverse Mort gage). What is the HECM Program? My intent on […]
#CostOfReverseMortgageCounseling What exactly is the reverse mortgage counseling cost? This is a very common question among those homeowners that are investigating reverse mortgages. Generally, the cost of reverse mortgage counseling depends on a few things. On average, the cost of the reverse mortgage counseling session is $125.00 – $150.00. Like any business, there are some […]
Can I use a reverse mortgage to buy a second home? You can ABSOLUTELY, use a reverse mortgage to buy a second home. However, there is a catch (kind of). Here is the “catch” to the question can I use a reverse mortgage to buy a second home – First of all, The home you […]
HECM for Purchase Changes – Not everybody is aware that you can buy a home with a HECM for purchase reverse mortgage loan. That being said, this short article is not meant to educate you about a HECM for purchase loan. We’ll do that on a separate post. At this point we’re just highlighting some […]
Reverse Mortgage Colorado – USNews.com cites Denver Colorado as the second best place to live in the U.S. in 2017. However, according to Movoto, Colorado is only the 22nd most affordable state to live in. Affordability is pretty middle of the road, so a reverse mortgage can certainly help make financial life in Colorado more […]
Can I Refinance My Reverse Mortgage Can I refinance my reverse mortgage? Homeowners that have a reverse loan sometimes find themselves wondering, “can I refinance my reverse mortgage”? It’s definitely possible to refinance your reverse mortgage. However, the answer is not a simple “yes” or “no”. You see, there are rules implemented by FHA in […]