Retire Your Way: A Guide to Reverse Mortgage

RETIRE

Your Way

Your Interactive Mortgage Guide Revised January 2025

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Meet Kathy Click the video or scan the QR code to watch!

Kathy Colkitt

NMLS# 73055 / MLS-4672 Branch Manager/Loan Officer

Call/Text: 509-999-6464 Email: teamkathy@genevafi.com

Kathy has been serving happy homebuyers and owners for over 25 years as a mortgage loan originator. She is an advocate at heart!

Reverse FHA VA Conventional USDA DPA

Loans We Offer: Home Select Investment Construction Non-QM DSCR Bank Statement

Homes for Heroes Hard Money Rehab Loans Cash-Out Refi HELOC/HELOAN

Licensed in: Washington, Idaho, Montana, & Arizona

In This Guide Pg. 4

About Reverse Mtg

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Did You Know?

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How to Qualify

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Requirements

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Our Clients

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Giving Back

Pg. 11

Meet Your Advisors

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Take Action!

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Reverse Mortgage Click the video or scan the QR code to watch!

Use Your Home Equity to Gain Financial Freedom Your choice: No mortgage payment or make payments – you still must pay taxes, homeowners insurance, & maintain home Free Up Cash & Stay in Your Forever Home Purchase or Refinance Available Unmarried Couples Allowed (as Long as Both are 62 or Older) FHA Max HECM Loan Amount: $1,209,750 Fixed or Line of Credit Interest Rates Available

HECM FHA Guarantee is a NonRecourse Loan

Seller-Paid Contribution to Closing Costs Allowed Up to 3%

Our Reverse Mtg Clients

Meet Sharon

Did You Know?

Cash Received from Your Reverse Mortgage Loan Can be Used for:

Purchasing a Vacation or 2nd Home (Even in Another State for you Snowbirds!)

Purchasing an income-producing property, such as a 1-4 unit investment Weddings Education Vacation Medical Services Such As Medication In-Home Care Services Equipment Unexpected Medical Services

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How to Qualify FHA HECM for Purchase

1. Based on age a. Must be 62 or older b. Unmarried couples allowed (as long as both are 62 or older) 2. Based on price of home a. Appraised value = purchase price b. Seller-Paid Contribution to Closing Costs Allowed Up to 3%

3. Income Social Security, W2 Wages, Pension, VA Benefit, etc.

4. Credit a. Consumer debt (monthly payments) b. New property taxes, insurance, HOA (monthly costs) c. Poor credit, collections, judgments may require a LESA (call for an explanation)

Contact Kathy & Team to become qualified for approval!

How to Sell & Buy

1. Get a CMA (Fair Market Value of the home you will sell) 2. You will know how much cash you’ll have for your forever home once you review: a. Cost to sell b. Debts to be paid off

Watch Video

Keeping Your Home Requires You to...

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Pay your taxes on time Pay your Homeowners Insurance on time Pay any homeowners association (HOA) dues on time Maintain your property’s condition Once a year: Sign your owner-occupied certification & return it to your servicer

Remember: You do this anyway now!

When You No Longer Live in Your Home...

You or Your Heirs Can Sell: Take the equity that’s left Heirs Can Decide to: Refinance your home into their name If your home is worth less than what is owed: Your heirs will give the house back to the bank without any cost to your heirs Note: HECM is a guaranteed non-recourse loan issued by the Federal Government to assure that you and your loved ones are not left with mortgage debt!

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"The freedom to be able to do some of the things we want to do and see our grandkids"

"I don't even have to think about it"

"I still own my house ... what a relief to be able to have that security"

"I'd do it in a heartbeat any day of the week"

"Get a hold of Kathy and her group. They'll take care of you!"

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Dedication & Commitment Just Ask Our Clients!

Reviews

All Client Testimonials

Purchase/Refinance Testimonials

1st-Time Buyer Shares His Experience

Reverse Mortgage Testimonials

Connect with Us Online!

Giving Back

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Homes for Heroes

for Cash es!

Hero Apply Now: bit.ly/cash4hero

Learn More:

Supporting Communities Rona

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FFA

4H

Click Photos to See Videos

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Professional & Strategic Advisors Meet Your Dedicated Experts Kathy

Courtney

Senior Loan Partner/Ops Manager NMLS #1519956

Branch Manager/MLO Advisor Workshop/Seminar Educator NMLS #73055

Melissa

Marketing/Technology Director

Our Commitment to You Mission Statement:

We assist, educate, and advocate for all people willing, ready, and financially able to have their dream of homeownership. We aspire to meet the mortgage needs of our clients and their families during this exciting and evolving time in their lives. We achieve this with the utmost grace, integrity, excellent customer service, and professionalism one can offer. ​

Vision Statement:

We as a team will move forward throughout the years inspiring others to join in our mission of providing quality outcomes to our clients' dream of homeownership. We will teach and model in the years to come in order for all people to understand how they can achieve homeownership.

Excelling In...

Customer Service

Financial Education

Communication

Follow Up

Closing on Time

Funding Your Loan

Call or Text: 509-999-6464 Email: teamkathy@genevafi.com Apply Online: bit.ly/applyteamkathy Visit: www.kathyhomeloans.com We Hope We Can Count On You to Refer Your Friends, Family, & Co-Workers in the Market for a Purchase or Refinance to Us! -Kathy Colkitt's Team at Geneva Financial

Kathy Colkitt - Branch Manager/MLO Geneva Financial, LLC NMLS #73055 / MLS-4672 Lic. in WA, ID, MT, & AZ WA CL/ENTITY NMLS#-42056

Scan for Most Updated Version of this Book!

Or visit: "Your Mortgage Advisor for Life" bit.ly/retire-your-way

mlsconsumeraccess.org • genevafi.com/disclosures-and-licenses/ Copyright©2024 Geneva Financial, LLC, NMLS #42056 Loan program details are for educational purposes. This is not a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements for refinances, and final credit approval. Not all applicants will qualify. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant’s eligibility and market conditions. Geneva Financial LLC is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. Geneva Financial LLC is approved to participate in FHA programs but the products and services performed by Geneva Financial LLC are not coming directly from HUD or FHA. Geneva Financial LLC NMLS #42056 is an Equal Opportunity Lender and Equal Housing Lender. 180 S. Arizona Ave Ste 310 Chandler, AZ 85225. 1-888-889-0009. AZ BK #0910215 **These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old.

Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.