Free Reverse Mortgage PDF's
DC Reverse Mortgages
DC Reverse Mortgages - MetLife Bank
MetLife Reverse Mortgage Consultant
As a Regional Sales Manager for MetLife, Sam brings a wealth of real estate, insurance, and mortgage knowledge to his role as a reverse mortgage consultant... Read More
Sam Draper
Reverse Mortgage Consultant
Metlife Bank, N.A.
Toll Free: 1-888-544-9369 | Mobile: 240-478-0273 | Fax: 518-953-1601
Email | Website
Reverse Mortgages in Washington, DC.
If you are a resident of Washington, DC. and are looking for a reverse mortgage then please read on. This page contains information on the DC reverse mortgage. Senior Reverse Mortgage Online is a national referral service for reverse mortgage providers, who offer loans in each city across the state. Benefits and highlights of the Washington reverse mortgage are listed below.
A reverse mortgage is a federally-insured home loan that lets a homeowner convert a portion of the home's equity into cash. The equity can be paid to you, the borrower, in one large lump sum, in monthly term or lifetime payments, or be retained in an interest bearing account until the funds are needed. With a Washington, DC reverse mortgage, unlike a traditional home equity loan or second mortgage, NO REPAYMENT of the loan is necessary, so long as the borrower lives in the home. This makes it a good source of Tax Free Retirement Income. Additional benefits and highlights of the Washington, DC. reverse mortgage are listed below.
Washington Reverse Mortgage Requirements:
- >>Borrowers must be Age 62 years or older
- >>Own their home and have enough equity in to qualify
- >>Occupy the home as primary residence
- >>Receive counseling by an approved HUD/FHA counselor
- >>The home must be in reasonably good repair
Washington DC Reverse Mortgage Payment Options
- >> Lump sum disbursement
- >> Monthly payments
- >> Line of credit
- >> A combination of the Above
Washington DC Reverse Mortgage Loan Amount
The amount of a reverse mortgage loan is based on several factors.
- >> Age of the youngest borrower
- >> Value of the home
- >> How much is owed on the home (if any)
- >> Current interest rate
Revere Mortgage Resources
We do not make loans. If there is not a licensed representative in your area feel free to inquire with HUD, or the mortgage regulatory body in your state for more information on reverse mortgages. You may also contact the National Reverse Mortgage Lenders Association, or "NRMLA" for a licensed representative in your state.
