Reverse Mortgage Solutions in Washington
Our team realizes that seniors have unique needs and unique finances that need unique professionals – that’s why we abide by the same obligations and standards that CSAs do. CSAs, or Certified Senior Advisors, understand the financial decisions that seniors make which influence their lives the most. Our owner and founder is a CSA – so our clients are always in the best hands. Trinity Mutual has been leading the way for seniors to enjoy retirement without financial burden since December of 2005!
There are several solutions that can help you tap into the equity that has built up in your home over the years and put it to good use. Enjoy financial freedom and do the things you really want to do with a reverse mortgage.
The HECM for Purchase option makes it a one-step process to buy a house and get a reverse mortgage at the same time.
The income can be used for anything: Pay bills, consolidate debt, travel, or make the big purchase you’ve always dreamed about!
You can keep your home for the rest of your life; when the time comes, your home passes to your heirs.
Your home can be turned into a home pension!
Eliminate your mortgage payment!
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!
Do I Qualify for a Reverse Mortgage in Washington?
Most people who contact Trinity are great candidates for these types of financial solutions. You must be 62+ years old with at least fair credit, and you must own your own home. In addition, the home must serve as your primary residence, and it must have built-up equity. Not sure if you quality? Let us help!
- When you do qualify, funds are quickly available within 4-5 days after close of escrow. The funds that you receive are tax-free (consult your tax professional), and you have a variety of payment options available to you for the funds you receive from a reverse mortgage:
- Equity Line, or Credit Line: This option is popular because of the interest that can accrue on the funds, which can be substantial. For example, a product with a 3.625% margin interest rate could grow at 6.35% per month, compounded monthly. If you have a $100,000 credit line with 6.35% growth, that would be $6,350 in interest income if the proceeds during the year remain in the equity line!
- Choose a lump sum payment at close or anytime you like.
- Term payments made over a period of time, whether it be months or years. For example, if there is $24,000 of funds available to a client who is ill with a life expectancy of 12 months, he or she may want to have $2,000 deposited into a bank account each month
- Tenure payments are those that are made for as long as the youngest borrower lives, and is an available option for disbursement payments.
- Mix and Match any combination of the disbursement options. You may wish to take any combination of the equity line, tenure payments, a lump sum payment, and term payments.
Contact Trinity Mutual Today
If you’re worried about having enough income to enjoy your retirement, or you’re not sure you’ll be able to retire on time, contact us. There may be several options and programs that can make the equity in your home work for you. If we find that a reverse mortgage isn’t the best option for you, we’ll recommend a solution that does suit your needs, such as a traditional mortgage refinance, a consultation with a financial planner, or a property trade followed by a reverse mortgage. We may also advise not to change anything about your current mortgage loan.
Whatever your goals are, Trinity can help you reach them. Call us at 1-866-707-4664. Contact us today to learn more about available options.
*Trinity Mutual is not a lender, but a mortgage broker who looks for the best lender for your loan.