Philomath Reverse Mortgage Lender – Get Expert Help

house2With the help of a reverse mortgage, seniors in Philomath Oregon have been able to retire comfortably in their own homes for years. This is possible because they receive funds from home equity that does not need repayment until after death or if you sell your house! Reverse mortgages are ideal for those who want to get out of debt and stay within a budget while enjoying retirement at home.

My first job as a financial consultant in Philomath was helping people with their retirement. I got to know them, and help plan the rest of their lives out in great detail. One thing that struck me early on is how many clients wanted reverse mortgages during our discussions about finances – it seemed like every other person had this idea!

Understanding What Reverse Mortgage Loans in Philomath Oregon Are, How You Could Benefit and if it Makes Sense For You

A reverse mortgage is a loan available in Philomath OR that you use to get the money from your home instead of paying it off. It sounds too good to be true, but there are certain conditions which make this legitimate and insured by FHA.

There are limitations on the value. If you have a million dollar home in Philomath, your reverse mortgage loan would be based off of the FHA maximum limit and not that $1million worth in equity.

What Qualifications are Needed to Get a Philomath Reverse Mortgage?

Our reverse mortgage loan officers in Philomath OR are required to attend continuous training on the reverse mortgage loans as well as advanced planning and utilization techniques, in order to ensure that all of our clients are being served at their best.

A reverse mortgage isn’t a free loan. Philomath homeowners are responsible for paying it back, but they do it at their own pace while living at the home. When the homeowner decides to sell the property or move out, then they will be required to pay the loan back. In the case of death, the heirs of the property can decide whether they will pay back the remainder of the loan or sell the property.

How Easy is it to get a Reverse Mortgage in Union OR?

There are three types of reverse mortgages that are available in Philomath. Some state and local government agencies offer single-purpose reverse mortgages; proprietary reverse mortgages are offered by private lenders; and then there are federally-insured reverse mortgages, HECMs, or Home Equity Conversion Mortgages.

When it comes to retirement, your needs are unique and every person handles their finances differently. A Philomath reverse mortgage can provide seniors with the financial security that they need as well as take some of the stress out of planning for a financially secure future.

Call Now to See if it is A Good Fit for You

Reverse mortgages in Philomath Oregon are a great way for seniors to feel financially secure. It’s normal, going into retirement, to worry about how you will make it through the years ahead with limited income and mounting medical bills – but reverse mortgage can take care of your worries by providing financial relief in any form that suits your needs best.

I am your trusted and professional Reverse Mortgage Specialist in Philomath OR. I have been in the industry for over ten years, answering any questions homeowners may have about their financial future with a reverse mortgage. There is no cost or obligation to speak with me-put together some numbers or run some scenarios through my questionnaire form available on our website.