Sentences with phrase «still qualify for a reverse mortgage»
Effective August 4, 2014, new Principal Limit Factors will be in place for the HECM, which will allow borrowers with spouses under the age of 62 to still qualify for a reverse mortgage.
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Homeowners with an existing mortgage may still qualify for a reverse mortgage, if certain conditions are met.
Effective August 4, 2014, new Principal Limit Factors will be in place for the HECM, which will allow borrowers with spouses under the age of 62 to still qualify for a reverse mortgage.
This change will allow borrowers with non-borrowing spouses under the age of 62 to still qualify for a reverse mortgage, possibly giving them access to higher loan amounts.
Not exact matches
Still, the changes in the rules mean an estimated 10 percent - 25 percent of potential borrowers will no longer qualify for reverse mortgages, Wills says.