Reverse Mortgages
Unlock the equity in your home and enjoy a financially stress-free retirement with our Reverse Mortgage program.
Key Features of a Reverse Mortgage
Tax Free Income
The payments received from a reverse mortgage are considered loan advances, not income earned, and therefore, they are not taxable
No Monthly Payments
With a Reverse Mortgage, the homeowner doesn’t have to make any monthly payments to the lender. It’s reversed, and the lender makes payments to the homeowner. The homeowner gets to choose how to receive these payments.
Stay in Your Home
Homeowners who opt for this kind of mortgage can continue to live in their homes, meaning you get to continue your life as is, while reaping the benefits of your hard-earned equity.
Let’s talk about your Reverse Loan Options
becky.nexalo@gmail.com
Call or Text: 505-235-9810
Looking for other loan options?
FHA Home Loans
Embark on your home-buying journey with the FHA loan, a federally insured mortgage designed for newcomers to the market. Its minimal down payment and lenient credit criteria make it a favorite among first-time buyers.
HELOC Loans
A HELOC transforms your home's equity into a versatile financial resource. This revolving line of credit offers repeated access to funds up to a pre-approved limit for diverse needs, from home upgrades to debt consolidation, with the flexibility of variable interest rates and payments based only on what you borrow.
VA Home Loans
VA mortgages celebrate and support our nation's heroes by offering exclusive homeownership benefits. Eligible veterans and service members can enjoy the advantages of no down payment, lower interest rates, and no private mortgage insurance, all backed by the Department of Veterans Affairs. This program is a fitting tribute to those who've dedicated themselves to serving our country.
Jumbo Loans
Jumbo loans are the go-to for financing expensive properties that conventional loans can't cover, typically necessary for homes over $750,000. These loans are considered riskier, requiring borrowers to have excellent credit and solid financials, with a minimum down payment of 10.1%. They offer the ability to finance larger amounts and avoid PMI with a sufficient down payment while providing rate flexibility.
Conventional Loans
Choose a conventional mortgage loan for a straightforward, government-independent financing option. Suited for those with robust credit, these loans are preferred by sellers and can bypass upfront mortgage insurance with a larger down payment, offering a clear route to homeownership.
DSCR Loans
DSCR loans provide a unique financing solution for real estate investors by leveraging the property's rental income for loan qualification. By calculating the Debt Service Coverage Ratio, lenders ensure the income is sufficient to cover loan payments, without requiring income verification from the borrower. Investors must meet credit requirements and provide a down payment of 15% or more, enjoying the benefits of faster closing times and a streamlined process for acquiring income-generating properties.
Feel Informed and Confident In Your Mortgage Decision
Get the information you need to feel happy with your mortgage choices. Find details about loan programs, qualifications, documents, strategies and more on our Mortgage Broker Blog.
