Mansfield Mortgage is your local expert on reverse mortgages in Vermont. These loans are often used to aid seniors in retirement income as monthly mortgage payments are eliminated. Borrower must maintain home as principal residence, pay all taxes, insurance, maintain the home, and comply with all other loan terms. Contact Mansfield Mortgage to learn more and apply for a reverse mortgage loan!
In recent years senior citizens with equity in the homes have been utilizing reversed mortgages at an increased rate. Reverse mortgages are great for senior citizens as they allow for the conversion of home equity into cash without the requirement of a monthly payment.
Home Equity Conversion Mortgages (HECM) are the only reverse mortgages that are insured by the Federal Government of the United States. HECMs cannot be obtained everywhere as they are available from an FHA approved lenders only Borrower must maintain home as principal residence, pay all taxes, insurance, maintain the home, and comply with all other loan terms.
These are fantastic loans that can serve you well in your retirement years. This loan product requires special attention on both sides of the broker/borrower relationship. Most of the time we prefer to work on these in a face to face situation due to the nature of the loan product.
This tool is provided for borrower convenience, the results of calculations using this calculator are estimates, and terms produced by the calculator may not be presently available credit terms.
This ad is not from HUD or FHA and has not been approved by any government agency.
