Learn More About FHA Reverse Mortgages

As you approach retirement, are you concerned about how you’ll be able to keep up with your daily living expenses? Are your staggering mortgage payments preventing you from spending your retirement years the way you’ve always envisioned? If you can relate to one of these scenarios, an FHA reverse mortgage may be the answer. You retain full ownership of your home and can keep living in it without making any additional payments. As most types of homes are eligible for an FHA reverse mortgage, it is worth looking into it to decide if it is a good option for you. At Premier Reverse Mortgage, we provide a complimentary estimate, a comprehensive background about reverse mortgages, and extensive resources throughout the entire proceedings.

What Is an FHA Reverse Mortgage?Financial

Currently the vast majority of reverse mortgage customers select a Home Equity Conversion Mortgage or HECM. Private lenders issue the mortgages, and the Federal Housing Administration (FHA) insures them. The Federal Housing Administration or FHA is part of the Department of Housing and Urban Development (HUD).

Get a Free Estimate

Some mortgage companies charge for every aspect of a reverse mortgage, including the estimate. Other organizations lead you to believe an online calculator has all of the information that you need to make an educated decision. You deserve to get an accurate idea about how much money you can get with a reverse mortgage before you pay anything. It is critical to work with a reputable establishment like Premier Reverse Mortgage that takes your age, the value of your home, and the current interest rate into consideration to provide an accurate, truthful figure. We only suggest products and services that are a good fit for your specific circumstances.

We Provide Ample Resources

Most people come to Premier Reverse Mortgage without a lot of information about FHA reverse mortgages. We give you all of the tools and other resources that you need to complete the application process with ease including background reading like our informative guides for seniors and adult children, FAQs that cover many of the questions that you have, and recommendations for the counseling session (provided by independent, HUD-approved agencies).

Have you been hesitant to consider alternative mortgage options because of your income or credit history? FHA reverse mortgages do not have the rigorous credit and income requirements that are common for second mortgages and home equity loans or lines of credit. We cannot guarantee that you will qualify for a mortgage. However, since the estimate is free, you don’t lose anything by trying. It could end up being the best decision that you make all year. Contact Premier Reverse Mortgage today to get your estimate. If you qualify, we’ll provide all of the information and resources that you need to obtain a reverse mortgage successfully. Give us a call today and set up an appointment or speak to one of our advisers over the phone.