A HECM Line of Credit Example

A HECM Line of Credit Example

The HECM reverse mortgage line of credit is a great financial tool for many seniors. If you owe little to nothing on your home, the HECM line of credit can turn a portion of your home’s value into a tax-free retirement “account” that will grow larger over time. Let me show you how with a HECM line of credit example. But before we do that, let’s first cover a few … Read More…

The One Simple Question That Could Get You Thousands More From a Reverse Mortgage

The One Simple Question HECM Reverse Mortgage

What if I told you there was one simple question that could net you thousands (or maybe tens of thousands) more from a reverse mortgage. Would you want to learn more? If so, read on! Now, before I fill you in on what this question is, let me cover a few basics first. If you want to be a savvy reverse mortgage shopper, it’s essential that you understand how the … Read More…

How Much Equity Do You Have to Have to Qualify for a Reverse Mortgage?

How Much Equity Do You Have to Have to Qualify for a Reverse Mortgage?

How much equity do you have to have to qualify for a reverse mortgage? Great question! The answer is: it depends! There’s no set amount that everybody qualifies for, so there’s no set amount of equity you need to make a reverse mortgage workable. How much you qualify for depends on several factors, including your home’s value, age of the youngest borrower, current interest rates, the program you select (variable-rate … Read More…

FHA Reverse Mortgage Calculator

FHA Reverse Mortgage Calculator

Looking for an easy-to-use FHA reverse mortgage calculator? You’re definitely in the right place! We upgraded our FHA reverse mortgage calculators recently and they’re even better than ever. One calculator estimates proceeds for a traditional reverse mortgage (for a home you already own and live in) and the other calculates your down payment for a purchase reverse mortgage. Both calculators are fast and easy to use and don’t require any … Read More…

Growth of Principal Limit: What It Is and How It Works

Growth of Principal Limit

Growth of principal limit is a key feature of a reverse mortgage, but few people really understand how it works. I’m going to get a little technical here, but hang with me. If you grasp what I’m about to cover, you’ll have a better understanding of the reverse mortgage than many industry professionals. Growth of principal limit really is the key machinery that makes a reverse mortgage work. Before we … Read More…

Introducing Our Reverse Mortgage Purchase Calculator

Reverse Mortgage Purchase Calculator

Did you know that we have a reverse mortgage purchase calculator? If not, don’t feel bad! We rolled it out a few months ago, so it’s still pretty new. Our reverse mortgage purchase calculator is a great way to estimate how much of a down payment you’ll need to purchase a home with a HECM reverse mortgage. Unlike most reverse mortgage calculators online, ours is free and simple to use … Read More…

The 3 Biggest Reasons Not to Get a Reverse Mortgage

Reasons Not to Get a Reverse Mortgage

There’s no question a HECM reverse mortgage is a great financial tool. However, any good reverse mortgage professional will freely acknowledge that it’s not the right solution for absolutely everybody. There are some scenarios where a reverse mortgage might not make sense. Before we dig into some reasons not to get a reverse mortgage, let’s first go over what a reverse mortgage actually is. There’s a lot of misinformation out there, so I … Read More…

The Reverse Mortgage Line of Credit is Fantastic. Here’s Why.

Supplement Retirement Income with Reverse Mortgage

The HECM reverse mortgage line of credit is simply fantastic. It’s a shame that so many seniors and their advisors and family members remain unaware of its potential benefits. If you’re at least 62, the HECM line of credit can substantially enhance your lifestyle and financial security in retirement. We’re living longer than ever today. It’s essential to have as many financial resources in retirement as possible. What if you’re … Read More…

Retiring Without a Mortgage is a Total Bummer! Here’s Why (And It’s Probably Not What You Think).

Bummer Retire Without Mortgage

Would you think I was crazy if I said retiring without a mortgage is a total bummer? After all, who in their right mind wouldn’t love to retire with no mortgage payment? OK, so maybe I’m exaggerating a bit. Maybe it’s not a total bummer, but it’s a bummer nevertheless – and not for the reason you may think! First of all, let me say it’s very commendable to pay … Read More…

Reverse Mortgage Calculator Without Personal Information

Reverse Mortgage Calculator Without Personal Information

Looking for a great reverse mortgage calculator without personal information requirements? You’re in the right place! We recently rolled out two brand new upgraded reverse mortgage calculators. One calculator is for a traditional reverse mortgage (for a home you already own and live in) and the other is for reverse mortgage for purchase. Both calculators are easy-to-use and don’t require you to submit any contact information. Check out the calculators … Read More…