Retiring from work doesn’t mean you can’t achieve your dream of homeownership. Whether you’re receiving a steady income stream, taking a one-time distribution for your home purchase, or a combination of both, there are options available to you. Our team of experienced Loan Officers is here to guide you through the process. Give us a call to explore your possibilities today!
Were you aware that, on average, rent has increased by 9.24% over the years? Considering that Social Security earnings typically increase at a rate lower than the current inflation rate, it raises an important question: How long can you sustain renting during retirement?
Take the step to home ownership! Its never too late. With rent prices sky rocketing and more and more requirements to rent its time for you to become your own landlord.
- Secure your future. Your home will always be yours. You can get a fixed payment of principal and interest for a specific period.
- Benefit from equity build up. Since every month your payment includes a portion of principal payment and when you add it to the growth value, your equity will grow over time. This equity can be accessed by an equity line of credit or a reverse mortgage.
- Reverse Mortgage. Its available to seniors age 62 or older. It gives the senior the avility not to make a mortgage payment as long as you are living in the property. You do have to continue paying for taxes, insurance, association if any, and repairs and up keeping. For more details on Reverse Mortgages please visit the Reverse Mortgage product page.
In the US having options is powerful. If you rent and can’t afford it, you need to apply for low income housing. You have no options!
- Ownership is power. You can access equity via a line of credit or a loan. Things to keep in mind is that Line the rates are variable and on loan the rate is fixed but usually are a little higher than refinance rates.
- Owning gives you choices. Revers mortgage gives the owner living in their property control. This type of mortgage doesn’t require you to make a monthly payment. But you do have to make sure that property is livable and pay taxes, insurance and HOA were applicable.
- Did I say owning is power. If nothing else suits you you can always sell it and live of the equity.
Questions? We'll Put You On A Right Path!
Buying or refinancing can be a daunting task, let us give you the options that best benefit your needs.