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Strategic Reverse Mortgages
21st Century Reverse Mortgage Loan
A 21st Century Reverse Mortgage Loan is also known as a Home Equity Conversion Mortgage (HECM). Simply put, it’s a way for you to convert some of the equity in your home to enjoy the money now - however you wish. You can pay off your existing mortgage, buy the car you always wanted, take that well-earned dream vacation - it’s entirely up to you. And, to make things even better, the money is tax free.
Some of the Qualifications for the 21st Century Reverse Mortgage Are
The youngest borrower must be at least 62 years old
You must live in your home as your primary residence
You must pay off your existing mortgage with some of the proceeds from your 21st Century Reverse Mortgage Loan
You must live in a single-family, two-to-four unit* owner occupied home, townhouse, approved condominium, or manufactured home
The 21st Century Reverse Mortgage Loan for Purchase is an option that allows you to purchase your dream home and never make another monthly mortgage payment. With this loan, you can double your purchasing power while significantly reducing your out-of-pocket expenses as compared to paying cash or securing traditional financing. Imagine, building the home of your dreams at no out of pocket expenses!
To learn more about the 21st Century Reverse Mortgage Loan or the 21st Century Reverse Mortgage to Purchase Loan, call the Rick Davis Mortgage Specialist Team at 515-343-2300.
*Not applicable to a 21st century Reverse Mortgage Loan for Purchase
Don't feel like filling out forms? Call 515-343-2300 today to speak directly with Rick Davis - Nationally Recognized Reverse Mortgage Lender!
To Learn More About the 21st Century Reverse Mortgage Loan or the 21st Century Reverse Mortgage to Purchase Loan, Call the Rick Davis Mortgage Specialist Team Today.
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