Over 62? A Reverse Mortgage May be Used to Purchase Your Next Home

A Reverse Mortgage may be used to purchase your next home.

  • If you are over 62, you may purchase a home using a Reverse Mortgage.
  • Your age will determine the percentage you may borrow using a Reverse Mortgage.
  • Do not have to qualify for this loan with credit score or employment history.
  • No monthly payment as long as you adhere to FHA guidelines

A home buyer may borrow between 50-60% of the home value depending on age.

Interest Rates and cost of loan is regulated by FHA and HUD.

You will still own your home when you take out a Reverse Mortgage.

I hope you enjoy this video series about Reverse Mortgages. If you have any other questions, please feel free to contact us:
Gennaro Faiola, Reverse Mortgage Advisor 916.216.1140
Pam McCoy, Realtor® 916.865.8759

Your Senior Real Estate Specialists (SRES),
Pam McCoy serving Folsom, Granite Bay, Roseville and surrounding areas

Payroll Tax Deduction – Home Loan Market Update – January, 2012

How does the new Payroll Tax Deduction affect Interest Rates

James W. Clark of Prime Lending in Roseville, California speaks about the impact of the new deduction that President Obama signed into affect in December of 2011.

Will the European Economies affect our Interest Rates?

Will the U.S. Debt Ceiling affect our Interest Rates?

These questions are explored in this video.

For more information:
James W. Clark, Loan Originator 916.412.0909
Pam McCoy, Realtor® 916.865.8759