Tag Archives: retirement home

  • Property Types Allowed for Reverse Mortgages

    A Reverse Mortgage can be a great financial tool in today’s 62 and older population, allowing seniors to live a well deserved, comfortable life in the home they choose. When choosing the home to be financed with a reverse mortgage, there are restrictions on which type of homes could be financed. Eligible Property Types for …

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  • Reverse Mortgage Myths and Facts

    If you mention reverse mortgages to someone, you will find some outdated beliefs or just erroneous information. To clear up the reverse mortgage myths out there, here are some of the most common misconceptions and more importantly, the facts: MYTH: The bank owns the home. FACT: Just like other mortgages, the owner remains on the …

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  • Retired Borrowers, Need Help Qualifying for a Mortgage Because of High Debt Ratio?

    Did you know that a retired borrower can use a new distribution of income from a retirement account as qualifying income for a mortgage loan as long as the income from the asset should continue for at least 3 years?  Sometimes a buyer may not have enough social security or pension to qualify for a …

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