Free Information!
A Guide To Aging In Place
Learn How To Use A Reverse Mortgage To Buy A House
See the Top 10 Home Improvements for Seniors
Find Out What The 2008 COLA Increase Means To You
Just The FAQs: Answers to Common Questions About Reverse Mortgages
See the Top 10 Reasons Seniors Get Reverse Mortgages
See the Top 10 Myths About Reverse Mortgages
Learn About Using A Reverse Mortgage As An Estate Planning Tool
Learn About Reverse Mortgage Safeguards
Learn About Pros and Cons of Reverse Mortgages
Using Reverse Mortgages For Health Care
Mesa, Arizona Reverse Mortgage Information
Across Arizona, more people are turning 62 every day and entering into the "golden years" of their lives. The "small-town feel" community of Mesa has transformed from a rural farming community to a busy activity-oriented one where seniors enjoy the active pace of life. Mesa isn't full of citrus groves anymore!
Mesa is consistently ranked high in the "active adult" category in all of the major national publications.
Many seniors in Mesa have chosen to enjoy their golden years rather than worry about making their next mortgage payment -- they have started putting their mortgage to work for them by using a Reverse Mortgage.
Mesa FHA HECM Reverse Mortgages
The Home Equity Conversion Mortgage (HECM) FHA-insured Reverse Mortgage can be used by senior homeowners age 62 and older to convert the equity in their home into tax-free monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home.
A reverse mortgage loan is different that a traditional home loan because instead of making mortgage payments, a reverse mortgage actually pays you every month.
- No monthly mortgage payments
- Title remains in your name
- Tax-Free money can be used in any way you choose
- Option for a credit line to handle life emergencies or unexpected expenses
- No income, credit or health requirements
- Eliminate debt by paying off mortgages and credit cards
Mesa Reverse Mortgage Qualifications
As long as you live in your home and keep your taxes and insurance paid, you can never be forced out. The federal government also guarantees your reverse mortgage, which means that you don't ever have to make a payment, you can never owe more than your house is worth and your heirs can make the decision on whether to sell or move into the house.
To qualify for a reverse mortgage, you must:
- Age 62 years of age or older
- Own your property
- Occupy your property as primary residence
- Single family home or 1-4 unit home with one unit occupied by the borrower
- HUD-approved condominiums
- Manufactured homes and leased land
- Participation in a consumer information session given by an approved HECM counselor
We are an FHA/VA approved lender that specializes in helping seniors get into the right Mesa HECM Reverse Mortgage for their situation. We have loan officers throughout Arizona and can help you understand more about your Reverse Mortgage options and find the right situation for your needs. Call us today!
Get Started Now!
