FHA Reverse Mortgage Condo Requirements
How to navigate the unique requirements for obtaining a reverse mortgage against a condominium.
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A reverse mortgage is a first mortgage loan that can be used to pay off an existing mortgage, get cash out, or set up a line of credit for future draws.
The main differentiator between it and a regular mortgage is that no principal or interest payment is required while you live in the home and stay current on the property charges.
Private or jumbo reverse mortgages that are not government-insured but are still non-recourse.
A common misconception is that reverse mortgages don’t require any credit or income standards. There are age, property type, equity, credit, and income requirements.
How to navigate the unique requirements for obtaining a reverse mortgage against a condominium.
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Premier Reverse Mortgage, LLC
1640 Powers Ferry Rd SE
Bldg. 28, Ste. 300
Marietta, GA 30067
(800) 996-5361
info@premierreverse.com