Reverse Mortgages

Now your home will finally pay for you!

Landmark Professional Mortgage Company, a trusted financing resource for Seniors for over 23 years, would like to tell you about the benefits of a Home Equity Conversion Mortgage, or Reverse Mortgage.

What is a Reverse Mortgage?

A Home Equity Conversion Mortgage is a reverse mortgage solution, a special type of loan that pays you. By using the equity you have accumulated in your home, you can receive cash, a tax-free monthly income, and/or a line of credit. There are no income or credit qualifications and best of all, no monthly payments. You can even use the proceeds to pay off your existing liens and mortgages. The US Government and several of our nations major financial institutions back Landmark Professional’s Reverse Mortgage program.

A reverse mortgage is much different than a conventional mortgage; it’s actually the opposite. With a conventional mortgage, the homeowner borrows a large lump sum of money and makes monthly payments. As payments are made, the loan balance gets smaller and the equity grows. With a reverse mortgage, the loan balance grows while the equity gets smaller. Instead of using income to gain equity, you can use your equity to gain income.

How Do I Qualify?

Qualifying for a Reverse Mortgage is as easy as 1-2-3.

  1. You are at least 62 years of age.
  2. Your home is your primary residence.
  3. You have accumulated equity in your home.

What are the Benefits?

There are several benefits of having a reverse mortgage:

  • Easy access to the equity you have built in your home!
  • No monthly payments.
  • Receive tax-free monthly income!
  • Eliminate your existing mortgage payments and other debts!
  • No credit or income verification!
  • Your financial independence!

Other Points of Interest…

  • Social Security and Medicare benefits are not affected by a reverse mortgage.
  • You own your home – the lender does not take control of the title.
  • No repayment is made until the home is sold or the owner permanently moves out.
  • You will never owe more than the value of your home.
  • Interest is paid at the time the loan is repaid.
  • There are no prepayment penalties.
  • Most types of homes accepted.
  • No out-of-pocket costs or expenses.

How Much Money Can I Receive?

There are a few factors that will determine exactly how much: the market value of your home, your age, and the current interest rate. Landmark Professional’s Reverse Mortgage Specialists will assist you in evaluating your options and calculating the maximum amount of money available to you.

Money Options – What can I do with my money?

It’s your money – you can do whatever you like with it. You’ve worked hard to build up the equity in your home, now it’s time to collect on your investment. Turn your mortgage into a savings account.

Do whatever you want, because you earned it. Enjoy your golden years without worry.

How do I Receive the Money?

There are four main options for receiving your money:

  1. Tenure Monthly Installment – Receive equal monthly payments for as long as you occupy your home as your principal residence.
  2. Term Monthly Installment – Receive equal monthly payments for a fixed period of time that you select, for example 5 or 10 years.
  3. Line of Credit – Draw cash from your reverse mortgage whenever and whatever amount you choose, up to your available limit.
  4. Lump Sum Cash Advance – You can receive all of your money in a lump some upon the closing of your reverse mortgage.

You can change payment plans as often as you wish for a nominal fee.

Let Us Help You Get Started…

It’s easier than you may think. Give us a call. There are only a few things that we will need from you, and we will do all the rest. The following items will assist us in helping you achieve your ideal plan:

  • Copies of your drivers license, S.S. Card, and Birth Certificate, if available.
  • Copies of your homeowner’s insurance statement and property tax statement.
  • A copy of your mortgage statement.

Shouldn’t your golden years be golden?

Contact Us!

Call Today! Get in touch with one of our Reverse Mortgage Specialists. This program has helped countless seniors and we love to tell other how it can help them. Please allow us the opportunity to answer your questions and help you determine the best course of action to help you obtain financial freedom at any point in your life.

Contact the Reverse Mortgage Team at Landmark Professional Mortgage Company

Serving Salem: Bill Tucker | Lisa McCormick | Pat Butler
503.581.8100 Email Us Today!

Serving Portland and the surrounding areas Curt Lawrence
503.530.8370 Email Us Today!

Get Started

Apply Now

 

What Our Clients Have to Say about Reverse Mortgages

Our Partners

Central-Oregon-Assoc-Realtors http://www.homebuildersassociation.org/Screen shot 2014-04-02 at 1.01.35 PMhttp://www.salemrealtors.com/http://www.mbaa.org/default.htm/hud 3211_186393975713_5267723_nCCAR-logo_logoCOBA-Logo-RGB---Color---WEB_full
Willamette AoRTCARealtors Landmark Professional Mortgage Company BBB Business Review TPCAR logo

Verify a mortgage company or individual here: Consumer-Access-Button
NMLS 399162