Posted on: 02nd Apr, 2014 06:42 am
What are the basic criteria I'll have to met before applying for a reverse mortgage loan?
the basics are all people in the home must be 62 or over and you must have enough equity in the home to cover the payments for what is projected to be the remainder of your life -
It isnt hard to get a reverse mortgage - they do take a little time but if you are eligible it is a great tool for people to live a more comfortable retirement - the older you are the less equity you need to qualify at 62 you need around 1/2 of the value of your home in equity
If you need someone to take a look and see if you are eligible let us know
Brian Barnes
ENG Lending
Nationwide Lender
It isnt hard to get a reverse mortgage - they do take a little time but if you are eligible it is a great tool for people to live a more comfortable retirement - the older you are the less equity you need to qualify at 62 you need around 1/2 of the value of your home in equity
If you need someone to take a look and see if you are eligible let us know
Brian Barnes
ENG Lending
Nationwide Lender