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REVERSE MORTGAGE

Purchase
Refinance
Home Equity Line (HELOC)
Reverse Mortgage
Commercial Financing

When a Reverse Mortgage Makes Sense

Reverse mortgages are specifically designed to give seniors more options.  The loans allow homeowners to remain in their home while drawing on their home equity to travel, purchase a new car or take the grandkids on more adventures.

Do You Qualify for a Reverse Loan?

In California, homeowners must meet the following requirements before qualifying for a reverse mortgage. Individuals must:

 

  • Be 62 years of age or older (if a couple, the oldest member of the couple must be 62 or older)
  • Take the loan out on their primary residence
  •  Have ample equity in their home

 

Advantages of a Reverse Mortgage

Reverse mortgages free individuals from meeting the requirements of traditional home loans. There are:

 

  • No monthly mortgage payments
  • No constraints on how the money is used

 

Also, heirs can decide to repay the loan or allow the lender to sell the home. They are not liable if the sale price doesn’t cover the entirety of the loan.

 

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NMLS     |     FAIR LENDER     |     FAIR HOUSING

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17 Street, Suite 200 Denver, Colorado 80222

802-102-1023    |    info@encompassmortgage.com

NMLS     |     FAIR LENDER     |     FAIR HOUSING

Nulla elementum ac ligula quis scelerisque. Fusce vitae egestas orci. Pellentesque quis diam hendrerit, consectetur mi at, mattis turpis. Quisque ante elit, auctor eu odio eu, rhoncus gravida nibh. Aenean in dapibus tortor, in congue libero. Phasellus cursus non tortor vitae Curabitur eget egestas nisi. Quisque ut tortor eget diam tristique malesuada. Sed et sapien ac justo egestas sed ut odio. Praesent fermentum nunc sed tellus pretium posuere.