Refinancing and Purchase Loans for Seniors
Senior Loan Consultant
Ken is a Real Estate Loan Originator Licensed by the Federal Government and California State Government.
If you live in Northern California, or if you are planning to move here, and you have reached the magical age of 62 years, or better, this is a fabulous time for you to consider taking advantage of those very precious benefits that are available to you through your reverse-mortgage purchase-financing program; or to consider the newly available, benefits for refinancing your current reverse mortgage.
A Reverse Mortgage is also known as a 'Home Equity Conversion Mortgage,' and is often referred to as a "HECM". The most popular HECM is the FHA Government-Insured- HECM.
Here are a few reasons why NOW is a great time to act:
*A NOTE to REALTORS:
The Reverse Mortgage PURCHASE-PROGRAM has opened an entire new client-base for Realtors! You may know many seniors who, really do, want to relocate, but perhaps you, and they, didn't think it was POSSIBLE, because -- their retirement income didn't meet the "normally required" income-qualification guidelines! Our Reverse Mortgage Purchase Program provides large portions of down-payment funds. Senior's and Boomer's can NOW, finally, get a lot more housing-value for their money!
Now, is the time for you to increase sales-opportunities for both customers, and clients. NOW, is the best time to learn about the NEW, FHA-insured, HECM Reverse-Mortgage- for-Purchase Financing Program. Please, don't wait, call me, at your earliest opportunity.
Why are Reverse Mortgages so popular among seniors and boomers?
· One very good reason, is that they pay No Monthly Mortgage Payments, EVER!
Important: Borrowers are responsible for property taxes, insurance, other periodic obligations such as HOA dues, and maintain the home. All borrowers must be 62 years or older, live in the home as the primary residence and have sufficient equity. Not all borrowers will qualify for all benefits. Additional programs may be available soon
· We are looking for your ability to pay property taxes, and property insurance.
· We are also required to obtain financial assessments and tax returns.
· If the buyers plan to retain their existing home, perhaps to use it as a rental, they must show that they can afford to support both properties, but rental-income is not used in the calculation.
· All borrower(s) must be at least 62 years old, and they must occupy the home as their primary residence within 60 days of cl osing.
· Single-family-residences, only, are eligible, for the Purchase-Program, But, 2-4 unit properties are eligible for the refinance program.
· The required down-payment amount is based upon age of youngest owner; the lower of, either the sales price, or the appraised value; or maximum claim amount and the expected interest rate.
· In Community-Property-Title states, such as California, both spouses must be on title to the property, both must live in the home, and both must sign as borrowers on the reverse mortgage.
To receive a review qualification for HECM Purchase Program -- Click Here
Ken is a California Mortgage Banker representing American Pacific Reverse Mortgage Group, a nationally recognized Mortgage Banker licensed in 18 states with over 150 branches offering reverse mortgage products - fixed rate, adjustable and cash accounts.
© 2015 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to insure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity
Contact: Ken Metcalf (800) 266-9010
Corporate: CA BRE License # 01215943 | NMLS #150590 1850
Kenneth M. Metcalf CA BRE License # 00276581 | NMLS # 235078
Licensed by the Department of Business Oversight,
under the California Residential Mortgage Lending Act
3000 Lava Ridge Ct., Suite 290, Roseville, CA 95661
Mailing Address: 4095 Silver Street, Rocklin, CA 95677
Link to NMLS Consumer access page
Equal Housing Lender