What Is A Reverse Mortgage?
A reverse mortgage definition simply stated is a loan available to homeowners 62 years or older allowing them to convert part of their home equity into cash.
Reverse mortgages work very much like traditional mortgages only in reverse. Rather than the borrower making payments to the lender, the lender makes payments to the borrower.
These are a few examples of how reverse mortgages work:
- They are designed to be paid off when you are no longer living in the home
- Your debt obligation can never exceed the value of your home
- Interest rates are added to the loan principle and paid when you leave the home
We are reputable mortgage brokers that can align you with reverse mortgage lenders serving Casa Grande and the surrounding area that are knowledgeable in this field, and that typically do not charge high fees.
Call us for a consultation to learn more about these mortgages and how we can assist in finding lenders in the Casa Grande area that are safe and reliable.
Benefits Of Reverse Mortgages For The Casa Grande Homeowner
As with most programs, there are reverse mortgage pros and cons.
With our help and the assistance of highly-recommended, reputable reverse mortgage lenders, we can help you sort through them.
These are some of the benefits of reverse mortgages:
- No monthly loan payments required from you as long as you remain in the house
- You can stay in your home as long as you comply with the loan terms
- Social Security and Medicare benefits are unaffected
- Title to the property remains in the name of the homeowners
Please call us for more information about the pros and cons of a reverse mortgage. We can also assist you in finding a reputable lender serving residents of Casa Grande that can help determine if this type of mortgage is right for you.
Reverse Mortgage Lenders For Casa Grande Residents
You may be reaching 62 years of age and wondering if you have set aside enough funds for retirement.
Reverse mortgages can fulfill those needs and more. As one of the leading mortgage brokers in this area, we can provide an overview of how reverse mortgages work, how they can be used, and the safeguards that need to be in place to protect you as a borrower.
One of the most important services we can provide our clients is to carefully align them with reverse mortgage lenders that we know have the highest integrity.
These are some of the ways we can assist you in making an informed decision:
- Provide a selection of lenders that understand the complexity of these mortgages
- Match you with a reputable lender who is licensed
- Recommend lenders who have the ability to support the loan
Call Brian Lardner for assistance in locating lenders serving homeowners in Casa Grande that will protect their hard-earned resources.