For many people, the reverse mortgage process can be highly confusing. The decision of which company to choose by itself can create anxiety among seniors who can benefit greatly from having a reverse mortgage loan. As a leading Richmond reverse mortgage lender, we at Reverse Mortgage Pro are here to answer your questions regarding eligibility, loan types and important safeguards surrounding this program.
What is a Reverse Mortgage?
Some of the first questions that are asked regarding this lending process usually include: What is a reverse mortgage and how do I qualify? To put it simply, the reverse mortgage is a vehicle that senior citizens can utilize that turns the equity in their existing home into cash. This allows access to immediate funds without having to make monthly payments while still maintaining home ownership.
Experienced Reverse Mortgage Lenders
Reverse Mortgage Pro has the experience and financial strength to provide professional reverse mortgage services to our clients at highly competitive rates typically below the national averages. Our combination of knowledge and professionalism allows us to successfully serve clients throughout the entire state of Virginia, including Virginia Beach and Chesapeake, as one of the top reverse mortgage lenders in the region.
Reverse Mortgage Interest Rates
With reverse mortgages, clients are only charged interest on funds received. These typically are variable interest rates tied to a specific index. Charged interest isn't paid out from available loan proceeds, rather it compounds throughout the life of the loan until repayment is made.
For direct contact throughout Virginia give us a call today at 866-562-6746. Throughout Indiana, call 888-588-2855. Conversely, browse through our directory agent listing to email a representative with additional questions or to obtain further information on our reverse mortgage services.