Welcome to USA Reverse Mortgages!
***Reverse Mortgage Financial Assessment is April 27, 2015. For those who are assigned a case number on or after April 27th,2015 you will be subject to the financial assessment.*** Read more here
Thank you for visiting our website. Our site is designed to help seniors get the most from their home.
Please feel free to use our website as a tool to help better understand the entire reverse mortgage process ie, what’s involved, questions, tips and testimonials! The Reverse Mortgage process has many different components. You should make sure you speak with a qualified loan officer who understands your situation and individual needs. We realize that your situation is unique and we strive to offer you the absolute best customer service possible.
Should you want a free quote, please feel free to use our reverse mortgage calculator.
Reverse Mortgage Benefits:
There are no income qualifications or required monthly mortgage payments. The proceeds are tax-free and best of all, you retain title to your home*.
* There are some circumstances that will cause the loan to mature and the balance to become due and payable. Borrower is still responsible for paying property taxes and insurance. Credit is subject to age and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.
• Provides easy access to a portion of the equity you have built in your home.
• Eliminates required monthly mortgage payments
• Provides funds which may reduce month-to-month financial burdens
• Allows homeowner to live in their home
Reverse Mortgage Tips
For Example: You are REQUIRED to meet/speak with with a HECM Counselor before beginning your reverse mortgage application with any lender. The role of the counseling agency is to review your unique financial situations during this private session and explore any alternatives that may be available, such as selling your home and downsizing, available city or state grants, or other alternatives that may be available to you. This really is in the best interest of the applicant looking for a reverse mortgage and why it is required. One thing to note is that counselors are now required to ask potential borrowers about income, assets, debts, and monthly living expenses in order to perform a budget analysis. Although they are required to ask this, your answers do not affect the qualification of the loan. Once you have completed this session you will be provided a counseling certificate which you will need to sign and deliver to the lender of your choice. Your lender also must give you a list of no less than 10 counseling agencies to choose from, 5 of which are mandated by the FHA and include the National Council on Aging.
Also - Check out the typical Reverse Mortgage Timeline
"Brandon was great. He worked with my Husband and I to make sure everything went very smoothly and that we understood each step. I can’t recommend getting this loan more strongly.“ Martha Read More Actual Client Testimonials
Reverse Mortgage FAQ
Q. Is the money I receive from the reverse mortgage tax free?
Q. What exactly is a reverse mortgage?
Q. Do you need good credit or a certain amount of income to qualify for a reverse mortgage?
Did you know there was more than just 1 type of a Reverse Mortgage? Learn about the Different Types of Reverse Mortgages
Different Types of Reverse Mortgages
Jumbo Reverse Mortgage:
A Jumbo Reverse Mortgage is a reverse mortgage designed for people whose home is worth 1.5 million or more. (Read More about the Jumbo Reverse Mortgage)
Reverse Mortgage for Purchase:
A Reverse Mortgage for purchase is a loan that allows you to apply the same principals of a reverse towards the purchase of a home. (Read More about using a Reverse Mortgage to Purchase a Home)
Reverse HECM Libor:
The HECM Libor or ARM is an adjustable rate reverse mortgage. (Read more about the Reverse HECM Libor)
Reverse HECM Fixed:
The Reverse Mortgage HECM Fixed is similar to the Libor but is fixed as the name suggests. (Read more about the Reverse HECM Fixed)
Reverse HECM Saver:
The HECM Saver is a revolutionary new loan that allows the borrower to have all of the benefits of a reverse mortgage while paying much lower fees.(Read more about the Reverse HECM Saver)
Learn about the Different Types of Reverse Mortgages