Feel free to use the loan calculator above to get an idea of the kind of home you can afford.
Remember, Lenders want to see your house payment, monthly cost of home insurance, any monthly HOA Fees, a monthly payment for property taxes plus any other monthly payments not to exceed 43% of your monthly gross income.
We have over 25 years of experience helping families secure real estate loans. We'll thoroughly explain your options based on your current financial situation.
Finding a home you love then discovering you don't qualify for the loan sucks and is a waste of your time. We'll help you get pre-qualified or work with your lender to get their letter of pre-approval before you go house shopping.
If you have a favorite lender you want to use, that's OK too, because our goal is to get you into your dream home. We'll work closely with your lender to get you a successful outcome. It's nice to know your Realtor also understands the loan side. You can use us to review your loan deal so you can feel comfortable with the whole process.
If you are 62 years old or more and are interested in finding out if your home qualifies for a Reverse Mortgage, just email us the following information and we will produce and send you a report that shows how much your home qualifies for and a breakdown of what your reverse mortgage will cost:
A Reverse Mortgage is a cash management tool. If you have equity in your home and would like to eliminate your mortage payment, this is the loan that accomplishes that goal. If you need to cash out some of your equity and still not have a loan payment, this loan does that too. Just think how much better your monthly finances would be if you no longer had to make a house payment every month, that's why this is a cash management tool. If cash flow isn't an issue then this loan may not make sense for you.
Instead of making a monthly payment, the interest due on the borrowed money is added to your principal balance. There is no pre-payment penalty involved so if you like, you can always pay down on this loan. The important thing to remember is that you or your estate never owe more than the home is worth. The lender takes that risk not your family. If the home is worth more than the loan balance due, then you or your family get the balance of the remaining equity after normal selling costs are deducted.
You can even use a Reverse Mortgage to buy your dream retirement home. Instead of paying all cash for that home, you can use some of your cash and combine it with a Reverse Mortgage to make the purchase. This allows you to buy a more expensive home if you wish without any loan payments while keeping some of your cash in your rainy day savings account.
Email us at email@example.com or telephone us at (949) 481-9026 and we'll get you the information you need to make an informed decision.
Even if you haven't decided what you would like to do at this time, please don't hesitate to contact us with any questions you may have. We trust that if we give you good information and good advice, we'll do a deal together down the road.
All client information is kept strictly confidential and only used to help you make wise choices. We want to be your trusted real estate advisor.