If you live in Maryland and want to work with a local reverse mortgage specialist you have come to the right place. Because we are local, we can meet with your face to face in the comfort of your own home or at one of our mortgage offices located throughout Maryland.
We specialize in the Home Equity Conversion Mortgage or HECM (HECK-UM), also known as a reverse mortgage. It is all we do. When you work with us you know that you are working with loan officers that are going to be able to answer all your questions. And not only answer your questions but structure the loan in a way that will meet your financial needs now and into the future.
What Sets Us Apart from Other Reverse Mortgage Lenders in Maryland
We are a direct lender – What that means is that originate, process, underwrite, fund and service all our loans. The last part, we service our loan, we have found is very important to our clients in Maryland. They want to know that they will be working with us for the life of their loan.
We are referral based – Unlike several other lenders, we don’t spend millions of dollars a year on advertising. Because of this we can pass those savings on to you in the form of better interest rates and lower fees.
Continuous training – Our loan officers are required to attend continuous training on the reverse mortgage loan options as well as advanced planning and utilization techniques to ensure all of our clients in the Maryland area are being served in the best way and their reverse loans are structured properly.
It could be overwhelming to decide if getting a reverse mortgage in is the right choice for you. Coming to the best decision whether or not or not this type of mortgage fits your needs, the advice from a reverse mortgage expert is extremely important.
We utilize and observe at all times industry leading code of conduct and ethics policies. Each individual mortgage loan is required to be designed to meet your needs and goals in the best way possible and in addition share with you all the conditions and terms of your mortgage loan. There are two things you will not ever get from our loan originators. First you will never be pushed to apply. Second you won’t ever be steered into other products. Go ahead and compare our fees with other mortgage companies. I think what you will find is both our fees and interest rates are incredibly competitively priced. You are the only one that will be able to come to a decision of this is the right choice for you, is you.
Acquiring understanding about this product is the key to everything. We suggest doing some research online to not only better know how the reverse mortgage works, but also to look for a local expert in .This should not just save you time, but could enable you to get a much better deal. The HUD website is the place we highly recommend your first stop be when doing research. This website addresses the basics such as the pros and cons, how they work, the downside, plus they explain just about everything.
We know that a reverse mortgage may not be right for you. If a reverse mortgage is not your one and only option, you should compare the advantages and disadvantages of every option to determine which one would suit you best. When you are fairly certain that the reverse mortgage is what you need, give us a call right away. By speaking with any of our local professionals, not only will you get all your questions addressed but they will walk you through the process and help you figure out if this loan is right for you as well as your situation. Every one of our staff members are required to follow our ethics and code of conduct policies consistently.
What is a Reverse Mortgage?
Very simply, it is just like a regular mortgage with the exception that there are no monthly mortgage payments required. You still need to pay property taxes, insurance and maintain the home.
It is regulated by HUD and insured by FHA.
• At least one spouse must be 62 or older.
• Your home in Maryland must be your primary residence.
• You can get a loan on a single family, multifamily up to 4 units, town home, HUD approved manufactured home and FHA approved condominiums.
• You will be required to attend counseling from a HUD approved counselor.
• You must continue to pay your property taxes, insurance and other property charges.
• The amount you can borrow is based on the youngest persons age, home value and current interest rates.
• You can access your home equity as a lump sum, line of credit, month payments for as long as you live in the home, monthly payments for a specific period of time or a combination of those options.
For all those people not located in Baltimore I also operate in all these areas: Lansdowne, Baltimore Highlands, Brooklyn Park, Arbutus, Rosedale, Dundalk, Linthicum, Catonsville, Woodlawn, Lochearn Most people contemplating a reverse mortgage prefer to talk with somebody that is local. Quite frankly we all understand this. Why wouldn’t you do business using a lender over the phone when it’s possible to work with a lender in Baltimore face to face?
Have Questions About Getting a Reverse Mortgage in Maryland?
There is no doubt that you have questions about getting a reverse mortgage in Maryland. We are happy to answer every question you have about this loan product.
• What is the downside to a reverse mortgage?
• What are the pros and cons of a reverse mortgage?
• How much can you borrow with a reverse mortgage?
• Is the reverse mortgage a good idea?
• Does it make sense to get a reverse mortgage?
• Does my home in Maryland qualify for a reverse mortgage?
• How does a reverse mortgage work?
• Are there risks to getting a reverse mortgage?
• What happens to the reverse mortgage when I die?
• Is the reverse mortgage a good fit for me?
While there are general answers to these questions. The answers will vary from each individual person. This is why you should talk with one of our local Maryland experts so you can get a personalized answer to your unique situation.