What Is A Reverse Mortgage?

If you are a home owner in Tucson, AZ aged 62 or over, you have likely heard about reverse mortgages. There is a good chance that you have plenty of questions, too. Crown Mortgages of the West are here to help.

Reverse mortgages are designed for borrowers who are 62 years or older. Think of them as regular mortgages that work backwards. In this case, the mortgage pays you money, instead of you paying money towards your mortgage each month. Because you do not have to repay it as long as you remain in your home, reverse mortgages are a beneficial financial tool for Tucson retirees on a fixed or limited income. However, it is important to remember that borrowers must continue to pay:

  • Property taxes
  • Homeowners insurance
  • Basic home repairs

 

Benefits Of Reverse Mortgages For The Tucson Homeowner

Reverse mortgages allow you to convert part of the equity in your Tucson home into cash without the need to sell your home, or pay additional bills. To obtain reverse mortgages in Tucson, you do not require a credit score and income.

The main qualifying factors are your age and your home equity. Reverse mortgage pluses for Tucson homeowner include:

  • No need to make any loan payments
  • Funds can be used for any purpose you wish
  • You cannot lose your home for nonpayment

Reverse Mortgage Lenders For Tucson Residents

Finding the right reverse mortgage lenders in Tucson can be a challenge. If you are a senior citizen, let us be your reverse mortgage lender. We make the process easy for you because we are the best reverse mortgage lenders in Tucson. We put YOU, our clients first.

We are committed to getting every client the very best deal to match their unique needs and circumstances. We encourage you to take advantage of our research by letting us recommend the right reverse mortgage for you. We serve all the residents in the Tucson area. We are known to provide:

  • Knowledgeable, friendly service
  • Smooth and hassle-free experience
  • Complete client satisfaction

 

 

Do not delay! Call Brian Lardner at 805-434-5226 to help us match you with the right reverse mortgage lenders in Tucson.