Senior American Funding
Your safe, secure source for REVERSE MORTGAGES
COMMONLY ASKED QUESTIONS
How many seniors have already received a Reverse Mortgage?
Over 300,000 Senior Americans have achieved greater financial security with this program. Demand for Reverse Mortgages has reached an all time high and the Federal Government has placed a limit on the number of Seniors that will be accepted into this program.
What does it cost?
Loan costs and fees are regulated by a government agency. Typical mortgage closing costs such as appraisal, credit report, title insurance, loan origination fees, FHA insurance premium and recording fees can be financed into the mortgage which would mean no out of pocket expense to you.
Do I still own my home?
YES!! You retain full ownership of your home and your name remains on the title. HECM (Home Equity Conversion Mortgage) Reverse Mortgages are safe because they are regulated by HUD and insured by FHA.
When does the Reverse Mortgage have to be repaid?
When the last remaining borrower permanently leaves the home, you or your heirs have six months or more to either refinance and keep the house or sell and keep all of the remaining equity.
What happens if my home requires repairs?
If any repairs are required, they will be completed during the Home Equity Conversion process and all the repair expenses can be funded into the mortgage which again means no out of pocket expense to you.
Over 300,000 Senior Americans have achieved greater financial security with this program. Demand for Reverse Mortgages has reached an all time high and the Federal Government has placed a limit on the number of Seniors that will be accepted into this program.
What does it cost?
Loan costs and fees are regulated by a government agency. Typical mortgage closing costs such as appraisal, credit report, title insurance, loan origination fees, FHA insurance premium and recording fees can be financed into the mortgage which would mean no out of pocket expense to you.
Do I still own my home?
YES!! You retain full ownership of your home and your name remains on the title. HECM (Home Equity Conversion Mortgage) Reverse Mortgages are safe because they are regulated by HUD and insured by FHA.
When does the Reverse Mortgage have to be repaid?
When the last remaining borrower permanently leaves the home, you or your heirs have six months or more to either refinance and keep the house or sell and keep all of the remaining equity.
What happens if my home requires repairs?
If any repairs are required, they will be completed during the Home Equity Conversion process and all the repair expenses can be funded into the mortgage which again means no out of pocket expense to you.
