Loan Programs

There are a variety of home loan programs available to borrowers today with a number of options for each one. Following are brief summaries of the types of loans you might want to discuss with your loan expert. Your experienced loan officer will be able to provide details of each one and how they might […]

Following are links to HUD-approved agencies that provide Home Equity Conversion Mortgage (HECM) Counseling. HUD funds housing counseling agencies throughout the country who can give you advice on reverse mortgages. To find a counselor near you, click on your state from the list below, or call (800) 569-4287. You can also contact the HECM counselors […]

The Home Equity Conversion Mortgage or FHA-Insured Reverse Mortgage can be used by senior homeowners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home. The loan, commonly known as HECM, is funded by […]

Reverse Mortgage Requirements Homeowners 62 and older who have paid off their mortgages or have only small mortgage balances remaining are eligible to participate in HUD’s reverse mortgage program. The program allows homeowners to borrow against the equity in their homes. Reverse Mortgage Payments Homeowners can receive payments in a lump sum, on a monthly basis (for a […]

Reverse mortgage…That’s a term more and more baby boomers are hearing and asking about. How can it help an aging homeowner? Who can apply for a reverse mortgage? Is the equity in your home the key to retiring comfortably? Todd Ballenger addresses the basics and more in reverse mortgages. Read the complete article here: Go With […]

You may not have heard of this type of mortgage but it has been around for years, and is approved by Fannie Mae and Freddie Mac. If you like the idea of a lower payment to start, but are nervous about taking an Adjustable Rate Mortgage (ARM) with it’s potential for negative amortization (owing more […]