FREEDOM TO CHOOSE... to access your equity!

Updated: 6 days ago


What to expect at your first reverse mortgage loan appointment:


1. Get Acquainted

We’ll talk about you, your home, family, finances, assets, income in retirement etc


2. Qualify

We’ll conduct a brief financial assessment; determine your and your home’s eligibility;

and ensure that property taxes, homeowners insurance have been paid and are

current.


3. Numbers Analysis & Loan Options

We will spend time discussing three different scenarios for your unique situation. A

numbers analysis will indicate what options fit your needs and goals. Each loan option

will be thoroughly explained so you have enough information to make a good decision.


4. Answer the Following Four Questions:

Is this the right product for me?

Is this the right company?

Is this the right professional?

Is this the right time for a reverse mortgage loan?


5. Look at the Big Picture

What are your goals?

Is a reverse mortgage loan a good fit for you and your family?

How can you access your equity and use it to better your life?

What will your life look like if you choose to move forward with a reverse mortgage?


Access Your Equity. A reverse mortgage loan can offer you access to your home's equity in four different ways: Lump Sum, Line of Credit, Tenure, Term

What are the qualifications?

  • One borrower must be 62 years or older

  • Purchased home is required to be your primary residence

  • New property must be: single– family home, 2-4 unit dwelling or FHA– approved condo

  • For a home purchase, you must have an adequate down payment* for your new home based on your age

  • No credit score requirements, some income and credit qualifications apply to make sure you

  • have the ability to pay taxes and insurance.

*The required down payment on your new home is determined on a number of factors, including your age (or eligible non-borrowing spouse’s age, if applicable); current interest rates; and the lesser of the home’s appraised value or purchase price.

Register for one of Joan Qvigstad’s Reverse Mortgage Seminars and learn if a reverse mortgage is right for you! You can call her at 360-271-5946 or CLICK HERE to register.

1 view0 comments

Recent Posts

See All

Complaints may be directed to: (877) 699-0353 or Email us: customerservice@fairwaymc.com.      Private Policy        Terms of Use        Legal Disclosures    Licensing

Copyright©2021 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Opportunity.