Commonfund Mortgage is Now Offering FHA Reverse Mortgages
A Reverse Mortgage is a home equity conversion mortgage (“HECM”) available to seniors 62 and older, which can be taken against a primary residence. This allows seniors to convert a portion of the equity in their homes into loan proceeds that can be used to live more comfortably in their retirement years. The amount that is available is based upon the age of the youngest homeowner, the appraised value of the home, and the interest rates available at the time of application. You retain ownership of your home. There are no restrictions on how the proceeds can be used. Common uses include healthcare/medical payments, to eliminate existing mortgage payments, long-term care, estate planning, debt consolidation, home improvements or modifications, or simply to create a supplement to a fixed retirement income. You can even use a HECM Reverse Mortgage to purchase a new primary residence.
We pride ourselves on our commitment to our clients, our vast experience in the industry, our highest ethical standards, and our compassion for the aging population. Our local Reverse Specialists that work with clients in person which allows them to fully understand our clients’ needs and personal situations. Call one our specialists today to schedule a free, personalized, no-obligation consultation and to see if a HECM Reverse Mortgage could improve your overall retirement situation.
Listen To Loan Officer Lynn Connors Speak About Reverse Mortgages:
Contact a Reverse Mortgage Specialist in Your Area
What our customers are saying!
“Lynn, Just want to thank you again for all your help and advice during the reverse mortgage process. You helped us stay the course despite the concerns and erroneous information offered by friends and family. A year has passed and none of the negative predictions have even come close to happening due in no small part to your guidance. Our budget projections have become a reality and our savings are growing at a healthy rate. We have not had to make great changes in our lifestyle and Corinne has been able to retire.
In addition, I followed up on your advice about lowering property taxes and just made our first quarter payment at a substantially reduced rate. The financial advisor you recommended did a great job of consolidating our assets and helping us plan for the upcoming years.
You have certainly made our lives better. Thank you again!”