Your Reverse Mortgage Questions Answered

Knoxville

What are the Initial Eligibility Requirements for Reverse Mortgages?

The initial eligibility requirements are quite simple. Homeowners must be 62 years of age or older and occupy the property as their primary residence The property may be a Single family or a 2-4 Unit property, Townhome, or FHA-approved Condominium The home must meet minimum FHA property standards Borrower cannot be delinquent on any federal […]

Chattanooga Mortgage Lenders

Reverse Mortgages vs. Traditional Mortgage or Home Equity Loans

A reverse mortgage is the opposite of a traditional mortgage. With a traditional mortgage, you borrow money and make monthly principal and interest mortgage payments. With a reverse mortgage, however, you receive loan proceeds based on the value of your home, the age of the youngest borrower, and the interest rate of your loan. You […]

Johnson City Mortgage Lenders

Let Your Home Take Care of You with a Reverse Mortgage/ Home Equity Conversion Mortgage

Reverse Mortgages for Seniors 62+ We have all the information to help you understand what a reverse mortgage is, and if it is right for you or someone you know. Reverse mortgages were created specifically for senior homeowners, allowing them to make the most of the equity they have acquired in their homes. With a […]

Home Equity Loans

Does Bank of England do Reverse Mortgage Lending in Sevier, Knox, Jefferson, Cocke Counties in Tennessee?

Yes, Bank of England Mortgage in Sevierville TN offers reverse mortgages. They are located at 967 Dolly Parton Parkway in Sevierville (37876). To contact them, call 865-429-2797 and ask for Debbie Scarantino. She is caring and extremely knowledgeable in helping seniors 62 or older acquire and reverse mortgage.

Knoxville Mortgage Lenders

How Much Money Can One Borrow in a Reverse Mortgage?

In general, the more your home is worth, the older you are, and the lower the interest rate, the more you will be able to borrow. The maximum amount that can be borrowed on a particular loan program is based on these factors: * The age of the youngest borrower at the time of the […]

Reverse Mortgage

What are the Requirements to be eligible for a Reverse Mortgage?

Initial eligibility requirements for reverse mortgages are quite simple. Homeowners must be 62 years of age or older and occupy the property as their primary residence. The property may be a single family or a 2-4 unit property, townhome, or FHA-approved condominium. The home must meet minimum FHA property standards. Borrower cannot be delinquent on […]

Reverse Mortgage

How does a Reverse Mortgage Work?

With a reverse mortgage, you borrow against the equity you have established in your home and you do not need to repay the loan for as long as you live in the home as your primary residence, maintain your home in good condition, and pay property taxes and insurance. You can live in your home […]