Portland Affordable Reverse Mortgage

Do you want to know more about Reverse Mortgage? Are you seeking info on How Reverse Mortgage work?

Mortgage Solutions

Reverse Mortgages

Retirees can use a reverse mortgage to:

Tap into the equity they have earned in their homes
Get access to a steady stream of income for retirement
Avoid having to sell their home in order to pay for retirement costs
Preserve their nest egg for future generations

HECM for Purchase

The Home Equity Conversion Mortgage for Purchase (HECM) was created to allow retirees the opportunity to use loan proceeds from the reverse mortgage to buy a new home.

There are unique needs that the HECM for Purchase was designed to meet, so if you are 62 or older and are considering purchasing a new home, this program may be right for you.

Refinance Loans

Reverse mortgages have competitive interest rates and desirable home market conditions might have you considering if now is a good time to refinance your mortgage loan. Refinancing your loan could help lower your monthly payments and interest rates, allowing you to benefit from the current market and save money in the long run.

Jumbo Reverse Mortgage

Are you a retiree looking for ways to access more home equity? A jumbo reverse mortgage could be a great option.

Compared to a HECM (Home Equity Conversion Mortgage) loan, HomeSafe offers:

-Loan limits of up to $4 million -Suitable for homes valued at over $850,000 and condos over $500,000

Reverse Mortgages

Retirees can use a reverse mortgage to:

Tap into the equity they have earned in their homes
Get access to a steady stream of income for retirement
Avoid having to sell their home in order to pay for retirement costs
Preserve their nest egg for future generations

HECM for Purchase

The Home Equity Conversion Mortgage for Purchase (HECM) was created to allow retirees the opportunity to use loan proceeds from the reverse mortgage to buy a new home.

There are unique needs that the HECM for Purchase was designed to meet, so if you are 62 or older and are considering purchasing a new home, this program may be right for you.

Refinance Loans

Jumbo Reverse Mortgage

Are you a retiree looking for ways to access more home equity? A jumbo reverse mortgage could be a great option.

Compared to a HECM (Home Equity Conversion Mortgage) loan, HomeSafe offers:

-Loan limits of up to $4 million -Suitable for homes valued at over $850,000 and condos over $500,000

Reverse Mortgages

How can a reverse mortgage help you?

Retirees who are 62 years and older can use a reverse mortgage to, tap into the equity they have earned in their homes. Get access to a steady stream of income for retirement. Avoid having to sell their home in order to pay for retirement costs and preserve their nest egg for future generations.

Receive Cash Now

Cash-out refinances are a great way to get access to the money you need quickly. With a cash-out refinance, you can take out a new mortgage loan for more than the balance of your current loan and pocket the difference in cash. This allows you to use the extra funds for home improvements, debt consolidation, healthcare costs, or other needs.

Eliminate Your Monthly Mortgage Payment

With the majority of your monthly mortgage payment gone, you can use those funds for other purposes. You will have more financial flexibility and fewer bills to worry about. Reduce Your Stress Level. Financial stress can be gone.

Save for a Rainy Day

No matter the size of your income or financial goals, it's always smart to have some extra cash set aside for those rainy days when life throws you an unexpected curveball. Start small and pay off any balance as soon as possible to keep interest costs down. Planning ahead for a rainy day can help ease financial stress in the future.

Buy Your Dream Retirement Home

You can use a reverse mortgage to purchase your dream retirement home, allowing you to enjoy the lifestyle you want while not having to worry about making monthly payments.

Plus, you'll get access to exclusive benefits such as no closing costs, no minimum credit score requirements, and the ability to keep all of the equity in your new home.

HECM for Purchase

The Home Equity Conversion Mortgage for Purchase (HECM) was created to allow retirees the opportunity to use loan proceeds from the reverse mortgage to buy a new home.

There are unique needs that the HECM for Purchase was designed to meet, so if you are 62 or older and are considering purchasing a new home, this program may be right for you.

Refinance Loans

If you’re 62 years or older, a reverse mortgage may be a good option for you. You can qualify much easier than with a traditional mortgage. Reverse mortgages have competitive interest rates and desirable home market conditions might have you considering if now is a good time to refinance your mortgage loan. Refinancing your loan could help lower your monthly payments and interest rates, allowing you to benefit from the current market and save money in the long run.

Benefits of a reverse mortgage vs. a refinance

If you have an adjustable-rate mortgage (ARM), you might be paying more than you need to. Refinancing your loan could help lower your monthly payments and interest rates, allowing you to benefit from the current market and save money in the long run.

You can also refinance your existing home loan or take out a home equity loan to finance renovations or other major expenses without having to take on additional debt.

Options for refinancing an existing reverse mortgage

No matter your reason for refinancing, it’s important to understand the process and determine if it’s right for you before signing any documents.

It’s also important to factor in the closing costs associated with refinancing, and remember that you may have to pay for an appraisal or title insurance as part of the process.

Refinancing can be a great way to save money and make improvements to your home, but it’s important to weigh all of your options first.

With the help of an experienced mortgage professional, you’ll be able to make an educated decision that’s best for your financial well-being.