Georgia Reverse Mortgage
If you’re looking for a financial solution to enable you to enjoy your retirement without the constraints of financial hardship, Trinity can help. A Georgia reverse mortgage is one solution that has become increasingly popular over the past decade. This type of solution could eliminate your monthly mortgage payments, giving you extra income instead by tapping into your home’s built-up equity as a funding source.
Some of the benefits of a reverse mortgage include:
Receive the money quickly with few conditions. Most often the money is available 4-5 days within closing of escrow.
HECM for Purchase enables you to purchase a new home and get a reverse mortgage at the same time, in an easy one-step process.
Get rid of your monthly mortgage payments!
Enjoy retirement free from financial worry. Income from a reverse mortgage is tax-free, too (consult your tax professional).
Your home can be turned into a home pension!
The Benefits of a Reverse Mortgage in Georgia
There are several benefits to obtaining a reverse mortgage: You can receive your funds via a variety of payment options for disbursement. In addition, you can use the funds for any purpose – to pay medical bills, travel the world, save for a rainy day, and more. There are no monthly payments required from you.
At Trinity, our goal is to help our clients enjoy their retirement – just as they deserve to. A reverse mortgage is a popular tool that can be used to supplement retirement income; financial consultants also may recommend using it to postpone Social Security payments for clients so that they receive higher benefits.
What are the Disbursement Options?
- Choose term payments deposited to your bank account on a regular basis, such as each month or each year.
- Choose tenure payments, which are monthly disbursements over the expected life of the youngest borrower. If the person lives longer than FHA estimates, the payments continue for as long as they live.
- Choose a lump sum at close, or at any other time you like.
- Choose a credit line, or equity line, that earns interest on the funds that remain in that line. For example, assume you have a $100,000 credit line with 6.35% growth. If you do not touch any of the proceeds during the year, you would earn $6,350 in interest income after 12 months.
- You could also choose any combination of these options!
Am I A Candidate?
Most of our customers who are homeowners that are at least 62 years old with fair to excellent credit qualify. If you own your own home, you consider it your main residence, and that home has accrued equity, you might make a great candidate. In addition, there are reverse mortgage financial options like the HECM (Home Equity Conversion Mortgage) program, proprietary loans, and more available.
Contact Trinity Mutual Today
Apply today with Trinity Mutual and find out which of these reverse mortgage solutions is right for you. A Certified Senior Advisor (CSA) is one who understands and communicates with seniors about finances and the decisions that influence the lives of seniors. Our owner and founder, Michael Fullam, is a CSA; at Trinity, every member of our staff is hired by and also operates by the standards and ethics of CSAs. If a reverse home mortgage is not a perfect fit for you, we will recommend a solution that is. Read more about CSAs at https://www.society-csa.com.
If you’re interested in learning more about financial solutions available to you, we can help! Call us today at 1-866-707-4664.
*Trinity Mutual is not a lender, but a mortgage broker who looks for the best lender for your loan.