Choosing a Loan Originator
Deciding to venture into a retirement mortgage is a major decision. When choosing whether one is right for you, qualified advice is invaluable; so too is selecting a Mortgage Loan Originator who is well versed in all aspects of retirement mortgages.
A Mortgage Loan Originator must adhere to strict, ethical conduct. They must inform you of all the terms and conditions of the loan clearly and with the utmost respect of your needs and goals. They must not pressure you or steer you into another type of loan, such as an annuity, that might not be in your best interest. If you sense you are being pressured, feel free to shop around. It is your decision; only you can decide what is right for you.
Knowledge is power. Read up on retirement mortgages before consulting with a Mortgage Loan Originator. This will not only save time, but could help you get a better deal. A good place to start is our Top 10 Retirement Mortgage Questions. We’ve also provided a list of Retirement Mortgage Resources.
We realize that a retirement mortgage may not be right for you. We encourage you to explore your options. If, for example, you wish to remodel your kitchen, a different type of single-purpose loan might be more appropriate. If however, a retirement mortgage could suit your needs, we invite you to contact us. An experienced Mortgage Loan Originator will walk you through each step of the process and answer any and all questions you may have.
We hope to assist you in any way we can as you consider your options.
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.