Save on Visions Reverse Mortgage with Residential Home Funding Corporation coupon. Visions Reverse Mortgages is a division of Residential Home Funding Corp based in New Jersey. We are currently licensed to lend in CT, DC, DE, FL, GA, MD, NC, NJ, PA, SC and VA. Residential Home Funding's Visions Reverse Mortgage is here to help seniors navigate their way to reverse mortgage that will work best for them. A reverse mortgage is a powerful source of funding for individuals who want to increase their income and be comfortable in retirement. If you are or your spouse are at least 62 years of age, and are considering a reverse mortgage, the amount you will be eligible for is based on several things. Most importantly, the value of your home, your age, and current interest rates. You will be eligible for more money the older you are and the more your home is worth. The largest personal asset most reitrees posses is their home and your reverse mortgage increases income without increasing monthly payments and helps allow a retiree to stay in his or her home. Your reverse mortgage can be a valuable retirement planning tool that can greatly increase a retiree's income stream by using your largest asset: your home. A reverse mortgage allows homeowners to borrow against their home's equity, while still maintaining ownership of the home. The Home Equity Conversion Mortgage (HECM) is FHA's reverse mortgage program, which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give Americans 62 or older greater financial security. Many seniors use it to supplement Social Security, meet unexpected medical expenses, make home improvements and more. Contact us today at 855-750-0879 to learn more and see if you qualify today!
The borrower on title must be 62 years or older (a non-borrowing spouse may be under age 62)., The home must be the borrower's primary residence., The borrower must own the home (The borrower must meet the financial requirements of the loan).
Reverse Mortgage Options
The amount you receive is based on these factors: Age (The older the borrower(s), the more funds may be available); Home Value (The higher the appraised home value, the more funds may be available); Interest Rates (The lower the interest rate, the more funds may be available).
Flexibility To Choose From 1 or More of These Loan Disbursement
Lump Sum Payout, Monthly Installments, HECM Growing Line Of Credit.
What is A HECM for Purchase?
HECM for Purchase is a Home Equity Conversion Mortgage that allows older borrowers to purchase a new principal residence and obtain a Reverse Mortgage in a single transaction. All borrowers must be 62 or older to quality. Older borrowers can use a reverse mortgage to purchase a new principal residence & downsize from their current residence or relocate to other areas.
What is a Visions Reverse Mortgage
The Visions Reverse Mortgage gives you the advantage of not having to pay an appraisal fee.
What is a Traditional HECM Reverse Mortgage?
HECMs are known as reverse mortgage loans created to help Americans age 62 and older convert a portion of their home equity into tax-free money. HECM reverse mortgages are insured by the Federal Housing Administration (FHA) and allow seniors to age in place and achieve retirement security.
Advantages of HECM Reverse Mortgages
No monthly mortgage payments, Tax-free proceeds, Federally-insured by the government, Delay you Social Security benefits.
What is a Reverse Mortgage Jumbo Loan?
A jumbo loan is for those age 62 or older who own a property that is valued at $1 million or more. These homeowners can now access more of their home equity. That could help you fund a more comfortable and secure retirement while keeping productive assets invested under your management. We offer a fixed interest rate that is lower than you might expect.
Additional Features of a Reverse Mortgage Jumbo Loan
Loan limits of ups to $2.25 million (significantly higher than a HECM allows), No mortgage insurance premium, No initial disbursement limitation - they take the full mount at closing, Condominiums appraised at $500,000 or more do not require FHA approval.
What is HECM to HECM Refinance?
When borrowers consider refinancing a Home Equity Conversion Mortgage (HECM), we must review the refinance transaction to ensure all state, FHA and NRMLA requirements have been met, and the loan is a benefit to the borrower. In order for the refinance to be considered a true advantage to the borrower, NRMLA has tests we must be applied to each loan.