Reverse Mortgage
Home / reverse mortgage
Home Equity Conversion Mortgage (HECM) Program
We have seen finances tighten for our friends and neighbors as prices for everything, including groceries and gas, continue to rise around the Treasure Valley. We offer a solution! Call us at (208) 990-5626 (LOAN) today! Together we will look into obtaining a reverse mortgage loan to aid you in your retirement years.
What is a reverse mortgage loan? A reverse mortgage loan is a financial arrangement that leverages the accumulated equity in your home to ensure a reliable stream of cash flow (payments to you, not from you) or may be used to eliminate existing debts. This enables you to continue residing in your home and relishing your retirement years with financial peace of mind.
The benefit of using your home equity in a reverse mortgage loan is that you can choose a loan distribution that makes sense for your situation. You can receive your loan money in one or a combination of the following ways:
While there are risks associated with taking out any loan, a reverse mortgage loan has fewer pitfalls than some other options for expanding a fixed income. There’s been an effort to make these loans safe because they are specifically and only for people aged 62 and older.
Reverse mortgage loans are:
Author H. Jackson Brown, Jr. said, “The best preparation for tomorrow is doing your best today.” Our team offers you several financial options to do your best with what you have today in order to secure a better tomorrow.
Preparing now by increasing your monthly income, putting money into savings, or paying off debts can save you from future adversity and heartache.
Residential Mortgage Reversal, A Cash-out Refinance Prospect
The most basic eligibility qualifications for a reverse mortgage loan, such as an HECM loan, include that borrowers must:
● Be at least 62 years old ● Own a home outright or have paid off at least 50% of their mortgage
Bradley Showers and Team is the best resource to help you in a compassionate and clear way to understand your options. Our certified reverse mortgage brokers have a great deal of knowledge about the different loan options and can help you, person-to-person, to:
● Know if you meet the requirements to qualify for a loan● Figure out how much you might be able to take out in a loan● Know what risks you take with a loan, and how to reduce them
We can assist you through the application process, and to decide which type of distribution will be best for your unique situation. Our goal is your peace of mind, expanded income, and ability to stay in your home.
Don’t hesitate to call Bradley Showers at (208) 990-5626 (LOAN), send an email, or fill out our online contact form. Bradley is an expert in the HECM program and the reverse mortgage loan process, and as a local, he is able to connect with clients through an office or home visit, depending on your needs and preferences. We serve clients in Boise, Meridian, Nampa, Caldwell, Eagle, Emmett, and surrounding Idaho areas, all the way out to Mountain Home.