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Colorado Reverse Mortgage without points or lender closing costs

Posted in: Reverse Mortgages
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Colorado Reverse Mortgage Applicant eligibility requires that the applicant has achieved the minimum equity requirement.  Reverse Mortgage product offers easy approval, does not depend on credit or credit score requirements, and there is no income verification involved.

Colorado Reverse Mortgages Lender Closing Costs or points.

Homeowner's would benefit from no Lender closing costs; the money spent by lenders while approving loans.  Homeowner's using this Reverse Mortgage program only pays for closing costs applicable to the terms and conditions of the lender, i.e. appraisals, etc...  These "non-lender" fees can be financed as part of the Reverse Mortgage Loan.

Homeowners ages 62+ may be pleasantly surprised with the thousands of dollars in savings and an easily obtained Reverse Mortgage product.  Taylor Mortgage Group offers retirees Colorado Reverse Mortgages  with NO points and NO lender closing costs.

A traditional mortgage or home equity loan requires monthly payments.  This Reverse Mortgage Loan program stops all mortgage payments as long as the owners retain the home as a permanent residence.  Homeowners that are still making mortgage payments can save hundreds or thousands of dollars each month.   Homeowner's are required to pay insurance,  taxes,  and to properly maintain the home and property.  An upfront one lump sum payment option is available.


Reverse Mortgage
clients utilizing this specially designed program enjoy the freedom to use the money they receive after signing the contract. Homeowners have the opportunity to put the money into savings or investments, pay bills, complete renovations/updating, etc.  

When a homeowner decides to move permanently from the home the payment structure changes.  Reverse Mortgages are a non-recourse loan.  Whether the homeowner decides to sell the home or both the homeowner and spouse pass on.  Essentially if home values decline, a surviving spouse and heirs will not be required to pay off more than the fair market value of the home.

Another requirement to obtain a Reverse Mortgage has to do with a federal government guideline.  All reverse mortgages are insured by the federal government.  The government requires reverse mortgage applicants to speak with a counselor from the Department of Housing and Urban Development (HUD) prior to approval.  Once the applicant receives HUD Certification, then the Reverse Mortgage approval process can be finalized.

For information about creative solutions for home loans and reverse mortgages  or rural loans used to develop housing, businesses, industries, and cooperatives, please call Taylor Mortgage Group LLC at (303) 339-5950 or Janie Taylor at (303) 884-9393.

   

reverse mortgages

Taylor Mortgage Group, LLC

Phone
303-884-9393
Fax
 
720-306-3813

Click Here to Email Us


CO  License:  100013875
NMLS: 385946
Regulated by the Colorado Dept. of Regulatory Agency



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