1st Mortgage Services

Reverse Mortgage

When a Reverse Mortgage Makes Sense

Advantages of a Reverse Mortgage

Reverse mortgages free individuals from meeting the requirements of traditional home loans. There are:

  • No monthly mortgage payments
  • No constraints on how the money is used

Also, heirs can decide to repay the loan or allow the lender to sell the home. They are not liable if the sale price doesn’t cover the entirety of the loan.

Do I Qualify?

Homeowners must meet the following requirements before qualifying for a reverse mortgage. Individuals must:

  • Be 62 years of age or older (if a couple, the oldest member of the couple must be 62 or older)
  • Take the loan out on their primary residence
  • Have ample equity in their home

  • Fixed Rates
  • Adjustable Rates (ARM)
  • 3.5% Down Payments
  • Jumbo & Super Jumbo Loans
  • Terms from 5 to 30 Years

Get Your FREE – Reverse Mortgage Quote Now!

1st Mortgage Services

714 Lakeway Dr
Bellingham, WA 98229
(360) 685-8058

mail@1stmortgageservices.com

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