Reverse Mortgages Estacada Oregon – Local Lenders

new-home-for-saleIf you are a senior citizen and wondering if you can afford to stay in your home when retirement rolls around, take heart. A reverse mortgage Estacada OR gives people the option of staying in their homes without worrying about finances; it is an affordable loan that allows seniors to enjoy life as they please.

Working with us is easy. When you take the first step and contact a reverse mortgage loan officer in Estacada , we will set up your appointment to come in for an interview. During this time, one of our representatives will get all the pertinent information from you so that they can start working on securing financing right away!

If there are any additional requirements needed or documents required to apply for a Estacada  reverse mortgage, like verification statements, credit reports etc., then those steps would happen next before submitting it to underwriting which could be another week depending on how many applications were submitted ahead of yours!

Understanding What Reverse Mortgage Loans in Estacada Oregon Are

Reverse mortgages in Estacada  OR are not free–there will always be some type of cost associated with taking one out including upfront fees and ongoing interest rates.

We are a direct reverse mortgage lender serving Estacada Oregon – and we know that is what our clients want to hear. We originate, process, underwrite, fund and service all of our loans- who else could offer them the same level of care? The last part about servicing their loan has been key for us; with so many different options out there these days it’s important they feel confident in working with us throughout their entire experience.

Who Should I Call About Reverse Mortgages in Estacada?

A Estacada  reverse mortgage is an innovative way to increase your cash flow by paying off a current mortgage and debt, without requiring monthly payments. Imagine what life would be like if you were free of the burden of recurring bills – from mortgages, credit cards, medical expenses or car loans?

The vast majority of homes in Estacada that would qualify for a reverse mortgage are single family, manufactured houses where you own the land. Townhomes and multi-family properties also qualify as long as your HOA meets certain FHA requirements.

Condos can even be eligible if they meet certain criteria by having an HOA with some basic rules in place to maintain quality standards. Homes in Estacada  OR which do not have sufficient structural integrity or lack maintenance may also fail inspection and therefore will not be approved for this loan program option at all.

Do Both Me and My Spouse Have to Be on the Estacada Oregon Reverse Mortgage Application?

As retirees in Estacada enjoy their later years there will come a time when they need sources of additional incomes–especially if they do not have pension plans or other benefits through previous employers. Potential borrowers should consider this loan product along with all others before making final decisions about long-term financial security.

A reverse mortgage in Estacada can be a great choice for many people looking to enhance their retirement lifestyle or take away the burdens of financial stress. However, it’s important to do research first so you know if this is right for you and what repercussions may come with this loan.

Call Me – I Am Happy to Help

You may be eligible for a reverse mortgage in Estacada OR, but you’ll need some pretty common documentation first. These include your ID and Social Security card as well as the corresponding award statement or 1099 form from social security depending on how much money has been paid to that account in recent years.

You also need current statements of any mortgages owed, along with the declaration page of home ownership if it applies to your situation (things like trusts are considered outside requirements).

You’ve been thinking about getting a reverse mortgage in Estacada  OR for years and you’re ready to take the leap. The first question is: Have I considered all my options? I’m excited to answer any questions you have about reverse mortgages! I’ve been working with them for years, so ask away. There’s no obligation and it’ll be my pleasure to see if a mortgage is the right option for you.