DidYouKnow?
CashReceivedfromYourReverse MortgageLoanCanbeUsedfor:
PurchasingaVacationor2ndHome (EveninAnotherStateforyouSnowbirds!)
Purchasinganincome-producingproperty, suchasa1-4unitinvestment
Weddings Education
Vacation
MedicalServicesSuchAs Medication
In-HomeCareServices
Equipment
HowtoQualify FHAHECMforPurchase
Basedonage
1. Mustbe62orolder
a. Unmarriedcouplesallowed(as longasbothare62orolder)
b. Basedonpriceofhome
2. Appraisedvalue=purchaseprice
b.
a. Seller-PaidContributiontoClosing CostsAllowedUpto3%
3.Income SocialSecurity,W2Wages,Pension,VABenefit,etc.
4.Credit Consumerdebt(monthlypayments)
a. Newpropertytaxes,insurance,HOA(monthlycosts)
c.
b. Poorcredit,collections,judgmentsmayrequireaLESA (callforanexplanation)
KeepingYourHome RequiresYouto...
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!
"Idon'tevenhaveto thinkaboutit"
"Thefreedomtobe abletodosomeofthe thingswewanttodo andseeourgrandkids"
"Istillownmyhouse... whatarelieftobeable tohavethatsecurity"
"I'ddoitinaheartbeat anydayoftheweek"
"GetaholdofKathy andhergroup.They'll takecareofyou!"
Professional&StrategicAdvisors MeetYourDedicatedExperts
Courtney SeniorLoanPartner/OpsManager
Kathy BranchManager/MLOAdvisor Workshop/SeminarEducator
Melissa Marketing/TechnologyDirector
OurCommitmenttoYou
MissionStatement:
Weassist,educate,andadvocateforallpeoplewilling,ready,andfinanciallyable tohavetheirdreamofhomeownership.Weaspiretomeetthemortgageneedsof ourclientsandtheirfamiliesduringthisexcitingandevolvingtimeintheirlives.We achievethiswiththeutmostgrace,integrity,excellentcustomerservice,and professionalismonecanoffer.
VisionStatement:
Weasateamwillmoveforwardthroughouttheyearsinspiringotherstojoininour missionofprovidingqualityoutcomestoourclients'dreamofhomeownership.We willteachandmodelintheyearstocomeinorderforallpeopletounderstand howtheycanachievehomeownership.
