Sentences with phrase «qualify for a reverse mortgage as»

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As long as you have a 1 to 4 - family home, or a townhouse that you live in, your home qualifies for a reverse mortgage loaAs long as you have a 1 to 4 - family home, or a townhouse that you live in, your home qualifies for a reverse mortgage loaas you have a 1 to 4 - family home, or a townhouse that you live in, your home qualifies for a reverse mortgage loan.

Reverse Mortgage loans are much easier to qualify for than Conventional loans as it pertains to income and credit requirements.

Multi-family homes that contain up to 4 units, such as duplexes, triplexes, and quadruplexes, could qualify for reverse mortgage loans as long as one of the units is the main residence.

The basic requirements to qualify for a reverse mortgage loan include: the youngest borrower on title must be at least 62 years old, live in the home as their primary residence and have sufficient home equity.

The counselors are tasked with educating the borrowers about Reverse Mortgages as well as determining if there are any other types of financing they may qualify for.

As on 2014, your FICO score and your income are part of qualifying for a reverse mortgage, but nowhere near the way they are when applying for a traditional mortgage.

To qualify for a reverse mortgage, borrowers must be at least 62 years of age, own their home and occupy it as their primary residence (among other requirements).

For those who do qualify, the reverse mortgage purchase can be used as a tool toward funding retirement in addition to moving to a new home that is more suitable for aging in plaFor those who do qualify, the reverse mortgage purchase can be used as a tool toward funding retirement in addition to moving to a new home that is more suitable for aging in plafor aging in place.

The basic requirements to qualify for a reverse mortgage loan include: the youngest borrower on title must be at least 62 years old, live in the home as their primary residence and have sufficient home equity.

As a financial professional, you may believe a reverse mortgage could help your client, but not know if they qualify for one.

You would then look online for a reverse mortgage calculator, enter some of your information, and come up with a very rough estimate that may seem as if you wouldn't qualify for enough money to be worthwhile.

HECM, which stands for Home Equity Conversion Mortgage and is also known as an FHA Reverse Mortgage, allows qualified borrowers to apply for an FHA loan which uses equity as the security for the loan.