Get the best reverse mortgage quote online! Comparison shopping the HECM programs is one of the best ways to save thousands in closing costs – and with our free service you will receive multiple HECM quotes.
Seniors have trusted Reverse Mortgage Lenders Direct in comparison shopping HECM reverse mortgages – while you could technically spend all day calling up top reverse mortgage lenders – we have existing relationships and technology which allow us to get your quote though multiple lenders at a much faster rate. In some instances we can even offer special’s which cannot be found with other lenders ( no fee reverse mortgage ),
Before searching for the best quote let’s make sure you understand the basics of the HECM program including how does a reverse mortgage work.
Who qualifies for a reverse mortgage
- must be at least 62 years or older
- own your home
- must be your primary residence ( live there 183 days out of the year )
- must have equity available
- never have defaulted on government debt in the past
- manufactured homes reverse mortgage
- no repayment while in retirement ( no monthly mortgage due )
- no income or credit score requirement
- flexibility in how you receive your equity ( monthly income, credit line, lump sum )
- non recourse loan ( protects you from if and when your home is worth less than the amount due – if heirs dont want home the FHA program pays this amount )
- leave house to heirs ( any current or future equity can stay in your family )
- this is a mortgage – so interest rates and closing costs apply
Did you know that there are no credit scores or income requirement for the federally insured reverse mortgage, while private lenders do consider this a factor, there is an advantage to comparing the entire market. Those seniors who use our free comparison service will have the opportunity to secure the lowest reverse rates by receiving multiple reverse mortgage quotes. We automatically compare multiple lenders in order to create demand for you loan, you can rest assured we are working hard to find you the best quote!
We work hard to comparison shop as many lenders as possible in order to review their different interest rates, programs, and in some instances to compare private reverse lenders/investors. We are a leading website for resources for seniors and also to facilitate the quote process saving you both time and money.
FAQ – Frequently Asked QUestions about HECM quotes
1.) How much will it cost me to receive a quote for the HECM reverse mortgage?
Nothing, nada, zero – we can save you time and money by shopping your loan at top reverse mortgage lenders.
2.) How many quotes will I receive and how can I stop receive these quotes?
You will most likely receive 3-5 quotes both over the phone and through email – you can simply opt-out of receive quotes online – the best method is through email.
3.) How can I best compare the different HECM quotes?
The interest rates and closing costs on the HECM program are the best methods to comparing different quotes by different banks. You also need to familiarize yourself with the 4 HECM types, to make sure you are comparing apples to apples. The APR includes all the fees so this is a easy way to quickly compare quotes – you should also take into factor – how long will it take to close the deal, does this bank/lender have a local presence, how comfortable are you dealing with this sales rep, what other closing fees can you expect and how do they all compare ( appraisal, origination etc).
reverse mortgage calculator
reverse mortgages pros and cons
reverse mortgages how they work
reverse mortgage information
reverse mortgage rates
reverse mortgage loan
REVERSE MORTGAGE QUOTE | QUOTES HECM LOAN 2012 By Paul Galante – Add me to your circles
loading...