Reverse Mortgage - Green River

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It only takes a few minutes to start the reverse mortgage process with Green River Mortgage.

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It’s Time to Truly Enjoy Your Golden Years: Let a Reverse Mortgage Help You Make the Most of Your Hard-Earned Assets

I give an A+ for Green River Mortgage. Honest, reliable, informative. Great company! - Kevin Donaldson

Leverage the Resources You Already Have with a Reverse Mortgage

Known by experts as a Home Equity Conversion Mortgage, reverse mortgages are a type of mortgage for homeowners 62 and older.

Reverse mortgages differ from all other mortgages, in that the “lender” (financial institution) pays the “borrower” (the homeowner) in the form of a credit line, monthly payment, or a combination of those two options.

With a reverse mortgage, a homeowner can borrow money from their home's equity (get a lump sum or monthly installments) and does not have to make any mortgage payments back to the bank until the borrower passes or the home is sold.

Benefits of Reverse Mortgages: Fast, Simple, and Stress-Free

  • • Credit history and income usually won’t disqualify you. Because a reverse mortgage doesn’t need to be repaid on a monthly basis (like every other type of loan), the bank’s concern is more about the home’s value, the borrower’s age, and if the home will probably retain it’s value.
  • • Currently have a mortgage? No problem. A reverse mortgage can be used to pay the remaining balance. There is no monthly mortgage payment because the loan is paid in full when the home is finally sold. This includes both the principal and the interest.
  • • Do you spend the winter elsewhere? That’s ok. You can apply for a reverse mortgage so long as your home is your primary residence and you live on the property for at least six months or more, every year.

Must Know Reverse Mortgage Facts.

Reverse mortgages come with their own special set of rules and limitations, here’s a few that are important to note:
  • • After the loan is granted, the borrower (homeowner) will still have other bills to pay, including homeowner’s insurance, property taxes
  • • The homeowner must maintain the property until they sell, pass away, or longer occupy the home as their primary residence.
  • • There are several factors that determine the amount a homeowner may borrow with a reverse mortgage, including but not limited to: anticipated appreciation of the home’s value during the loan’s course, the length of the loan, and the loan’s interest rate.
  • • One of the most important factors of these is the anticipated appreciation, as the lender must maximize the chances that the home’s sale will pay off the accumulated debt.

Contact Us Today

Give us a ring at (866) 407-4418 or Fill out an easy online application today

Contact Us Today

Give us a ring at (866) 407-4418 or Fill out an easy online application today