The information you have provided us does not have sufficient criteria to evaluate your qualification for a reverse mortgage at this time.
Your loan to value ratio is .
Our current program allows at most a loan to value ratio.
There may be additional information or criteria that our loan specialists may be able to utilize to see if you can qualify.
The basic criteria for qualifying is as follows:
You must be at least 62 years of age or older.
You must own and live in your own home.
The home must be your principal residence.
Other qualifying factors are several and they include the age of the youngest borrower, the appraised value of your home, current interest rate and the current equity of the home.
As a courtesy to you we will have one of our licensed mortgage professionals contact you shortly and review the data and factors in your application process and provide you answers to help explain the circumstances involving your status.
*Please be advised that all information provided is deemed confidential and is solely used for the express purpose of facilitating a response to your inquiry. Further your information is not shared or in any manner distributed to any parties not affiliated with your specific inquiry.
There are many articles written about HECM/Reverse Mortgages which are intended to lure consumers into using the product. Not surprisingly, most are written by lenders looking to increase their monthly sales volume. In an effort…