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Reverse Mortgages

A reverse mortgage is a loan for seniors age 62 and older. HECM reverse mortgage loans are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.

Why a Reverse Mortgage?

A reverse mortgage pays off your existing mortgage, should you have one, by allowing you access to the home equity you’ve worked so hard to build. Any money left after paying off your existing mortgage is available to use as you see fit.

Fixed Rate Mortgages

This loan is fully amortized over a 15-year or 30-year period and features constant monthly payments. 15-year offers all the advantages of the 30-year loan, plus a lower interest rate and you’ll own your home twice as fast.

Opt for a 30-year

The disadvantage of a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn’t that great.

Government Backed Loans

Government loans are issued or backed by the United Statess Federal Government and this protects the lender from risks of default. This makes government loans have some of the best rates available.

Types of Loans

FHA Loans
VA Loans
USDA Loans

What clients are Saying

I just refinanced my home with Steve, and he did a great job. He stayed on top of the rates and got me a 3.5% 30 year fixed, which I’m thrilled with. Ive done all of my home loans since 1999 with Steve. He is one of the most knowledgeable lenders there is. He can explain different programs and any of the documents you have to sign to help you feel comfortable.

Gina M.