What Is A Reverse Mortgage?
Reverse mortgages have proven to be a financial option worth considering for Bullhead City, AZ seniors looking for cash in their retirement years. To qualify for reverse mortgages, Bullhead City seniors must be age 62 or over. With reverse mortgages, homeowners can convert the equity in their home into cash.
The best part is that they are not required to make payments on the loan as long as they are living in the house. The goal of reverse mortgages is to allow Bullhead City homeowners to continue living in their homes without the burden of making principal and interest payments. Some other features of this type of loan include:
- Make retirement less stressful financially
- Use the cash however you desire
- Ideal for ‘house rich’ but cash-poor individuals
- Not considered income and are not taxable
At Crown Mortgage of the West, we take all the leg work out of the research process for you. With access to numerous reverse mortgage options, we can help Bullhead City homeowners find the right reverse mortgage for their specific situation.
Benefits Of Reverse Mortgages For The Bullhead City Homeowner
Reverse mortgages are a viable option for Bullhead City seniors looking to collect proceeds without selling their home, giving up the title, or paying for a new monthly mortgage payment. How you receive the proceeds from reverse mortgages is totally up to you.
The proceeds can either be a lump sum, installment payments, or a combination of both. Homeowners in Bullhead City can use proceeds from reverse mortgages for:
- Paying off an existing mortgage
- Making home improvements
- Supplementing retirement income
- Paying for home health care
- Buying a new car
Reverse Mortgage Lenders For Bullhead City Residents
Everyone who comes to us has a unique situation. Regardless of whether they are a perfect borrower or not, our job as a mortgage broker is to help Bullhead City residents find the right reverse mortgage to meet their individual needs. Reverse mortgages come in all shapes and sizes.
It is our job to know these very well. When speaking to our Bullhead City clients, we determine which reverse mortgage would fit their specific needs and circumstances. We offer:
- Professional advice
- Personalized service
- Clear communication
- Complete satisfaction
Brian Lardner is here to educate seniors on reverse mortgage pros and cons, and then help you find the right reverse mortgage available in the Bullhead City area should you decide this loan product is right for you. Call Crown Mortgage of the West at 805-434-5226.