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Springfield Reverse Mortgages
Reverse Mortgage Lenders - Springfield, NJ.
New Jersey Reverse Mortgages
HUD Reverse Mortgage Specialist
Originally from the UK, Mark has lived here for 22 yrs now, and loves it. Mark is a New Jersey reverse mortgage broker, but is able to service several states. He is also a proud member of the SLN (Senior Lending Network with Robert Wagner) and the NAIPC (National Aging In Place Council.) He provides an excellent level of service and is available to answer any reverse mortgage questions... Read More
Mark Draper - HUD Reverse Mortgage Specialist
1199 Raritan Rd, Suite 203
Clark, NJ 07066
Tel - 732-447-6217 | Toll-free - 888-FHA-1230 Ext 11
Email | Website
About Reverse Mortgages in Springfield, NJ.
If you are a resident of Springfield, NJ. and are looking for a New Jersey Reverse Mortgage then please read on. This page contains information on the Springfield reverse mortgage. Senior Reverse Mortgage Online is a national provider of reverse mortgages, and offers loans in each city across the state. We also act as A Reverse Mortgage Referral Service, so if you prefer to work with someone in your immediate area, you can do just that. You are welcome to contact the above specialist in your area. First, please read on for more information. Benefits and highlights of the Springfield 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 Springfield 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 for More Retirement Income. Additional information on Springfield reverse mortgages is listed below.
Springfield 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
Springfield Reverse Mortgage Payment Options
- >> Lump sum disbursement
- >> Monthly payments
- >> Line of credit
- >> A combination of the Above
Springfield 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
To learn more about reverse mortgages in Springfield, NJ. please request a free Reverse Mortgage Quote online. There is no obligation, and the information is free. You may visit the following link to return to the Senior Reverse Mortgage home page.
