One of the challenges many first-time home buyers face is not knowing if they are overpaying for a mortgage. It is important to understand the various items that will impact your interest rate and the type of loan you will qualify for before you start shopping for a home. Some of the factors you should […]
Oftentimes, it is challenging to determine if a refinance is beneficial; there is a lot of conflicting information that makes people wonder. Is refinancing your home worth it? Simply put the answer is — it depends; if done correctly, refinancing can save you thousands of dollars. When To Refinance Homeowners are often tempted to refinance […]
When you apply for a home mortgage, the rate of interest you pay is typically tied to your credit score. The better your credit score, the lower interest rate you should be eligible for. Frequently, new home buyers may not have established a strong credit history and therefore are paying higher interest rates. That means […]
Those who have a home mortgage know this is a long-term financial obligation. Your mortgage payment is typically your largest monthly expense. Whether you took out a mortgage a year ago or you have been paying on a mortgage for several years, it may be time to consider refinancing home mortgage to see if you […]
There are a number of decisions you have to make when you are considering purchasing a home or refinancing your existing mortgage. One of those decisions could have a serious impact on you for years to come; that is the decision about your lender. You have the options of using either national mortgage lenders or […]
I Get a fair number of questions about bi-weekly payments. A bi-weekly payment plan is really simple. Instead of paying your mortgage payment once a month, you pay half of it every two weeks. Most months, we only collect two half payments – so nothing is different. We take those two half payments and we […]
MYTH The lender owns the home. Just like a forward mortgage, the customer retains the title and ownership during the life of the loan and they can sell the home at any time. MYTH Once loan proceeds are received, you pay taxes on them. Reverse Mortgage loan proceeds are taxfree as it is not considered […]
Borrowers must qualify for a home equity line of credit (HELOC) based on their credit and income. The reverse mortgage line of credit is GUARANTEED. There is no such guarantee with a HELOC. In fact, with a HELOC, the bank can reduce or close the credit line at any time. This happened a lot after […]
Would you like to move to a smaller home or a home that is more suited to your changing needs? Would you like to be closer to friends and family? Would you like a newer home with lower maintenance or a home in a different neighborhood or one with lower taxes? Before we had […]
Andy helped me save money. My local bank (large bank) was .25% higher and they acted like they were doing me a favor talking about loan programs. They were very helpful and the process was smooth.
Ed J., Levittown, PA
The reverse mortgage allowed me to bring my father home from a nursing home to the home he wanted to be in.We were able to pay for the at home nursing care with the funds from the reverse mortgage. He was able to stay at home and be with his dog.
Dick was able to help me with my mortgage when my husband and I were going through a divorce. During a very difficult time for me, Dick was able to work through the differences and problems I was having. He was able to get my mortgage closed in a very quick time which was essential for me.
Carla, Ambler, Pa
Nan was absolutely fantastic to work with! I decided to finally go through with a reverse mortgage after I met her. I had complete confidence in her and she made me feel very secure through the whole process. I use my reverse mortgage to pay my real estate taxes and it’s a great emotional security knowing that money is there if I need it.
Nan was an excellent representative for her company. She presented me with many different loan scenarios and happily met with my financial advisor and accountant and even my attorney. We all decided that taking out the reverse mortgage was the best thing for me because it put to work some of the large amount of equity I had in my home. This meant that I could draw down less of my investment accounts.
WOW – Was I surprised. I never knew a mortgage loan officer could be so helpful. Tom reviewed my refinance and while reviewing our mortgage application and property information, he recommended we apply for a tax reassessment. He told us how to do it and sent all the links and paperwork for us to fill out. We saved $4,042 per year in taxes and even more with the new lower rate.
Marc R., Upper Makefield, PA.
I felt like a boulder had been lifted off my chest. I had worked hard all my life and paid the bills to take care of my wife and 3 daughters. Mostly it had been living paycheck to paycheck. Now with the reverse mortgage, we have the money to do the things we want to do and a cushion for any emergencies.
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