NEW MORTGAGE PRODUCT FOR ARIZONA RESIDENTS AGE 60+

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STEP ONE

We evaluate if you are eligible for a reverse mortgage loan using three variables:

Home Owner's Age

To qualify for a reverse mortgage, you must be over age 60 on the loan’s closing date. The older you are, the more funds are available to you.

Home Value

This is the amount that your home is worth. If you’re not sure, type in your best estimate.

Mortgage Balance

This is the amount that you have left to repay in mortgages and liens on your home. The less money you owe, the more of your home’s equity is available for you to access.

STEP TWO

We look at property information to give you an estimated amount of what you may be eligible to receive.

The amount that is available generally depends on four factors: your age, the current interest rate, the appraised value of the home, and government-imposed lending limits.

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SEE WHAT FUNDS YOU MAY HAVE AVAILABLE

COMPLETE FIELDS BELOW

By clicking "GET PERSONALIZED QUOTE", you are providing your signature and express "written" consent to be contacted by or behalf of Reverse Mortgage Funding LLC, its affiliates and/or its agents (collectively Company) at the telephone, email or mailing address that you have provided for purposes of fulfilling this inquiry about reverse mortgages and/or the Company's products or services, even if you have previously registered on a "do not call" government registry or requested Company to not send marketing information to you by email and/or direct mail. You agree that the Company may use automatic telephone dialing systems and prerecorded voice messaging in connection with calls or texts made to the telephone number you provide even if the telephone number is assigned to a cellular or mobile telephone service or other service for which the called party is charged. You understand that you are not required to consent to receiving autodialed calls or texts as a condition of any reverse mortgage and/or purchasing any Company products or services. If you do not wish to authorize Company to contact you in this manner, you can call 888-277-3617 to complete your request. You understand that you can revoke this consent at any time.

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A MORE FINANCIALLY SECURE RETIREMENT

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60 IS
THE NEW 62

Reverse mortgages are no longer reserved for homeowners and homebuyers over 62 years of age. RMF has reinvented the reverse mortgage, with a new product for those 60 years of age and older.

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MORE ACCESS TO FUNDS

You may be able to access even more equity than with traditional reverse mortgages on the market. 

LOWER UPFRONT COSTS

Since there is no mortgage insurance premium, Equity Edge may have lower up-front costs than a traditional HECM

 

THE FACTS ABOUT A REVERSE MORTGAGE



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If you are over the age of 60 and own a home, please consider this - imagine you had the ability to make any payment on your current mortgage including no monthly payment while maintaining full ownership of your home.

Well that is a reverse mortgage!

Yes, just like a traditional mortgage you own your home and whatever equity is available when you sell your home is yours. 

There are many misperceptions of a reverse mortgage and it is now time to set the record straight. 

A reverse mortgage is not different than the mortgage you have now, it just gives you the flexibility to make any payment you want.

You have worked hard to build the equity in your home and now with a reverse mortgage you can have complete control over how you access the equity in your home. When my mother in law wanted to have complete control over the equity in her home, she got a reverse mortgage, that’s right my mother in law. 

A reverse mortgage gives you complete security and peace of mind of the most important aspect of your life, your home equity.

WHAT OUR CUSTOMERS HAVE TO SAY






Customer Satisfaction rating source: RMF customer survey 2017

LendingTree Ratings and Reviews as of February 2018

1 If part of your loan is held in a line of credit upon which you may draw, then the unused portion of the line of credit will grow in size each month. The growth rate is equal to the sum of the interest rate plus the annual mortgage insurance premium rate being charged on your loan.

* This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

With this pricing option, borrower receives a lender credit covering nearly all closing costs.  There is a non-refundable independent counseling fee of approximately $125 on average, which the borrower pays directly to the counseling agency.  Terms and conditions apply.  Not available in all states.

Equity Edge Reverse Mortgage (“Equity Edge”) is Reverse Mortgage Funding LLC’s proprietary loan program, and it is not affiliated with the Home Equity Conversion Mortgage (HECM) loan program, which is insured by FHA. Equity Edge is available to qualified borrowers who also may be eligible for HUD, FHA’s HECM program or are seeking loan proceeds that are higher than HUD, FHA’s HECM program limit. Equity Edge currently is available only for eligible properties in select states. Please contact your loan originator to see if it is currently available in your state.

Upon a maturity event, any non-borrowing individuals with an ownership interest in the property, including non-borrowing spouses, will have 90 days to purchase the property from the estate or, if the non-borrower inherits the property, pay the loan in full using any sources of funds available to them. Any non-borrowing individual, including a non-borrowing spouse, should have a plan to pay off an Equity Edge reverse mortgage upon the borrower’s death or any other maturity event. If the non-borrower is unwilling or unable to purchase the property or pay the loan in full, there is no protection for the non-borrower (including a non-borrower spouse) to maintain an interest in the home or to continue residing in the home past the maturity event and the non-borrower may be evicted upon foreclosure. The FHA HECM program has protections in place for certain non-borrowing parties, so a reverse mortgage applicant with certain non-borrowing parties should strongly consider a FHA-insured HECM loan (see HECM guidelines or ask an RMF representative for details).  Under the Equity Edge reverse mortgage loan program, a maturity event occurs when the last surviving borrower no longer lives in the home as his or her primary residence for at least 12 months, the property charges (including taxes, insurance, HOA dues or any other property charges) are not paid, required repairs are not completed or the property is not maintained, or any other maturity event, as specified in the Security Instrument, occurs.