Reverse Mortgage
So you're thinking about a Reverse Mortgage? You've come to the right place. A reverse mortgage is a type of loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their home into cash. There are a number of differences between a forward mortgage and a reverse mortgage.You will also eliminate your mortgage payment and instead begin to RECEIVE a monthly payment.
Who Qualifies?
- Those who are 62 years of age or older. - Those who have substantial equity or own the property free & clear. - Those who occupy the property as their principal residence. - Those who have income sufficient enough to maintain the home, and pay taxes & insurance. How easy is that? Mortgage of Texas and Financial LLC has a Reverse Mortgage Specialist you may contact directly to get the ball rolling. The first step to qualifying for a reverse mortgage is to complete our Pre-Approval worksheet HERE and send it in to us. If you have any questions you can call our office, or call our specialist, Bob Stakes directly at 210.556.5367.
Benefits of a Reverse Mortgage: 1.) No monthly mortgage payments.
2.) No prepayment penalty. 3.) No limitations on how you use funds. 4.) Non-recourse loan-the liability is to the value of the home. 5.) You can use funds to delay taking Social Security income. |
Mortgage of Texas and Financial is proud to be partnered with AAG to ensure you receive an exceptional loan experience.
For Reverse Mortgage Calculations,
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Mortgage of Texas & Financial LLC (c) 210.478.9846 (o) 210.858.2425 (f) 210.568.4961 6609 Blanco Rd., Suite 320, San Antonio, TX 78216
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