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House Paid Off?

March 17, 2022

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Rethinking The Equity In Your Home

Most people think since their home is paid off a Reverse Mortgage isn’t for them. That isn’t always the case. You can use your home’s equity as a tool in your retirement toolbelt.

  • Line of Credit grows an average of 0.5% per year. An average savings account grows 0.005% a year.
  • In a down market, don’t cash in your portfolio. Use your home equity to supplement so you don’t miss the upswing when the market bounces back.
  • Tax-Free income to use for home improvements that will increase your home value.
  • When one spouse, passes, the other doesn’t have to worry about leaving their home. Most men find this extremely comforting to know their wife will be taken care of.

Call us today at 720.541.5545 to learn how to use your home equity the smart way.

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Company NMLS ID: 2268418
Mortgage Loan Originator NMLS ID: 2216012

Equal Housing Opportunity

If you qualify and your loan is approved, a HECM loan must pay off your existing mortgage(s). With a HECM, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower, or eligible nonborrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. A HECM increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). These materials are not from HUD or FHA and were not approved by HUD or a government agency.