Mybesthomelender.com

06/07/2019

Did you know borrowers still own their home when they take out a reverse mortgage loan?
Did you know all borrowers must get HUD-approved counseling prior to getting a reverse mortgage loan?
Did you know there are several loan proceeds payment options with a reverse mortgage including lump sum, line of credit and monthly payments?
Borrowers are faced with more questions than answers when they first start their reverse mortgage loan process.
Get the top 30 facts about reverse mortgage loans here.

Some of these facts may surprise you.  It is common that when we talk about reverse mortgage loans with people, they often don’t know a lot about them.   We are happy to share these with you in hopes that it will answer some of your questions.   

01/04/2019

Are you curious? Check this out.....

You may have heard about a lending option called a reverse mortgage loan for homeowners.   If you are not familiar with it, a reverse mortgage is a loan for people at least 62 years old that converts a portion of their home equity into cash. The proceeds from a reverse mortgage can be used to pay ...

11/27/2018

There are some things that are worth waiting for... the love of your life.... the front parking spot at the mall....the perfect cup of coffee to brew... but waiting to get a reverse mortgage isn't one of them....

Many people think that they should wait until they’re older before getting a reverse mortgage loan because, generally, you can get a little more money as you get older. But let’s look at the factors that determine when is the best time. The reverse mortgage loan-to-value, or “principal limit f...

11/20/2018

Every year at this time there are many homeowners who decide to wait until after the holidays to list their homes for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are seven great reasons not to wait: Relocation b

11/19/2018

It's a scary statistic, but 70% of us are going to need long-term care...do you know how you are going to pay for it???

We try to anticipate all kinds of things that could happen; car accidents, house fires, illness or disability, etc.  But most people don’t think about or plan for the fact that 70%* of us are going to have to worry about the cost of long term care at some point before we pass away. 

11/17/2018

Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.4%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious. Every mark

11/16/2018

Everyone knows that housing affordability has been negatively impacted by rising prices and increasing mortgage rates, but there is another piece to the affordability equation – wages. How much a family earns obviously impacts how easy or difficult it is for them to afford to own a home. Because

11/15/2018

According to a recent report by ATTOM Data Solutions, home sellers who sold their homes in the third quarter of 2018 benefited from rising home prices and netted an average of $61,232. This is the highest average price gain since the second quarter of 2007 and represents a 32% return on the origi

11/14/2018

Over the past few years, two trends have emerged in the housing market: Home renovations have shot up Inventory of homes available for sale on the market has dropped A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Hom