Choosing a Loan Originator
Making the decision to pursue a reverse mortgage is a significant one. Qualified guidance is vital when deciding whether a reverse mortgage is right for you, as is finding a Mortgage Loan Originator who is knowledgeable in all aspects of reverse mortgages. A Mortgage Loan Originator must follow strict ethical guidelines. They must fully notify you of all loan terms and conditions while keeping your needs and aspirations in mind. They must not put you under pressure or steer you into a loan that is not in your best interests, such as an annuity. If you feel forced, you are free to browse around. It is your choice; only you know what is best for you.
Knowledge is power. Read up on reverse mortgages before consulting with a Mortgage Loan Originator. This will not only save time but could also help you get a better deal. A good place to start is with our Top 10 Reverse Mortgage Questions. We’ve also provided a list of Reverse Mortgage Resources.
We understand that a reverse mortgage may not be suitable for you. We advise you to consider your choices. If you want to remodel your kitchen, for example, a different form of single-purpose loan may be more appropriate. If a reverse mortgage sounds like it might be right for you, please get in touch. An experienced Mortgage Loan Originator will assist you through the whole process and answer any questions you may have. We look forward to discussing the best lending choices for your specific circumstances.
¹There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower is still responsible for paying property taxes, homeowner’s insurance, and maintaining the property to HUD standards. Failure to do so could make the loan due and payable. Credit is subject to age, income standards, credit history, and property qualifications. Program rates, fees, terms, and conditions are not available in all states and are subject to change.
²Borrowers should seek professional tax advice regarding reverse mortgage proceeds.
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax, or financial advice. Consult with a qualified attorney, accountant, or financial advisor for additional legal or tax advice.
*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms, and conditions are not available in all states and subject to change.
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Mortgage Specialists
NMLS #350697
8050 Florence Ave. Suite 210
Downey, CA 90240
Phone: (949) 990-3185
Work Phone: {949) 990-3185
Cell Phone: (949) 990-3185
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