What is a Virginia Reverse Mortgage?
If the home you own as your primary residence has built up equity and you are at least 62 years old with fair to excellent credit, you could be qualified to enjoy financial freedom during your retirement with a reverse mortgage solution. It’s quickly becoming a popular tool that homeowners and financial planners are using to supplement retirement income. Some financial planners use it to postpone Social Security payments for clients so that they receive higher benefit payments. You can use the funds you receive for anything – use is unrestricted!
What are Some of the Benefits of a Reverse Mortgage?
Reverse mortgage solutions offer tax-free income for senior homeowners (consult your tax professional).
Eliminate your mortgage payment!
Your home can be turned into a home pension!
HECM for Purchase makes it a one-step process to purchase a home and get a reverse mortgage.
Make the most out of the equity in your home as you turn that equity into financial freedom.
We have access to a variety of services and programs that will help you tap into the equity that has been building in your home, and turn it into real income you can use! We’ve helped thousands of clients find financial freedom since 2005. As a Certified Senior Advisor (CSA), our owner and founder, Michael Fullam, is a specialist when it comes to addressing the challenges and financial needs that seniors face. Our goal here at Trinity is to help as many seniors as we can, treating each and every client the way we want to be treated ourselves.
Don’t wait any longer to see how easy it can be to enjoy your retirement without financial worry. Apply now for Trinity’s reverse mortgage solutions and make your home’s equity work for you!
Should I Consider a Reverse Mortgage in Virginia?
Many of our clients are looking for solid income for a variety of reasons, so you can choose the option that caters to what you need. We have solutions that will allow you to remain in your home, solutions that will help you sell your home and purchase a new one, and solutions that will give you the money to pay medical bills, travel, purchase a boat, or anything else!
Our number one goal is the financial benefit of seniors who look to us for guidance with their finances and primarily, finances regarding their homes. We may recommend for you a HECM (home equity conversion mortgage), a jumbo reverse mortgage, a traditional refinance, or another solution. We may also recommend that you not change anything about your current mortgage loan, if that is what would suit you best.
Disbursement Options for Reverse Mortgage Funds
Our clients are able to choose from several different available options by which they receive their proceeds:
- Choose to receive funds all in one lump sum.
- Receive term payments over time (months or years). For example, if there is $36,000 of funds available, you might have $3,000 deposited to you each month for one year. Alternatively, you could choose to have $6,000 deposited monthly for six months, or $1,000 deposited every month over a period of three years.
- Tenure payments are those that are made over the expected life of the youngest borrower, regardless of how long he or she lives.
- An equity line, or line of credit, offers interest that can be gained on funds that remain on the credit line, which can accrue to be considerable in just twelve months’ time.
- Choose a combination of any of the above options, if you decide that is what will suit you best!
Contact Trinity Mutual Today
If you’d like to learn more about the variety of options that may be suitable for your situation, contact us at Trinity! Don’t wait another day to find out if you can get the funds you need to enjoy your retirement. Contact us now; we look forward to doing everything we can to help you! Call us at 1-866-707-4664.
*Trinity Mutual is not a lender, but a mortgage broker who looks for the best lender for your loan.