Griffin Financial Mortgage - The Reverse Mortgage Source

Reverse Mortgage Options

HUD/FHA - The Home Equity Conversion Mortgage (HECM) is a government insured program. The loan amount is based on the FHA lending limits, which are a minimum of $160,176 and a maximum of $290,319.
- HECM monthly adjustable - The interest rate can adjust monthly.
- HECM annual adjustable - The interest rate can adjust yearly.
The Fannie Mae - Home Keeper™is a reverse mortgage sponsored by Fannie Mae. The loan amount is based on a maximum lending limit of $333,700.
The Financial Freedom Cash Account™ - is a reverse mortgage sponsored by Financial Freedom Senior Funding Corp. This product has no loan limits and it typically the choice by people with higher valued homes. The three options under the Cash Account ä are:
- The Standard Cash Account - Higher Fees and fewer restrictions.
- The Zero Point Cash Account - Lower Fees and more restrictions.
The Simple Zero Cash Account - No Fees and the most restrictions.
Griffin Financial Mortgage, LLC will provide a detailed comparison of programs available personally discuss your best options.

WHAT IS A REVERSE MORTGAGE?

A Reverse Mortgage allows a senior homeowner (62+) to exchange a portion of the equity in their home for a Tax Free Income. A Reverse Mortgage has NO Monthly Payments required for as long as you live. A Reverse Mortgage provides Tax Free Cash that can be used for any purpose. With a Reverse Mortgage you retain the Title to your Home. That means with a Reverse Mortgage you can sell your Home at Anytime. A Reverse Mortgage allows you to receive the Cash in Monthly Payments, A Lump Sum, A Line of Credit, or a Combination of the above. A Reverse Mortgage does not affect Social Security and Medicare. With a Reverse Mortgage there are No Income, Credit or Health Qualifications.

THE PROCESS OF A REVERSE MORTGAGE

Educate yourself about a Reverse Mortgage.
Get a free information package about a Reverse Mortgage.
Speak with a qualified lender about your option of a Reverse Mortgage.
Consult a trusted family member or financial advisor about the benefits of a Reverse Mortgage.
Schedule a counseling session with a third party, non-biased counseling group about a Reverse Mortgage.
Upon reaching a decision to pursue a Reverse Mortgage complete an application with a qualified Reverse Mortgage Specialist.
The Reverse Mortgage Specialist will begin the underwriting process by ordering an appraisal, title work, and other related documentation.
The Reverse Mortgage is submitted for final approval and then is scheduled for closing at a location convention for you.
At funding of the Reverse Mortgage you receive your Tax Free Cash.