Reverse Mortgage Loan Product
What is a Reverse Mortgage?
A reverse mortgage is a home loan product that lets you tap into a portion of your existing home equity for cash. The equity that you have built up all these years can now be paid out to you. However, instead of having to repay this money in the form of mortgage payments, no monthly payment is due. In fact no payment is required until you no longer use this home as your primary residence.
In what instances are Reverse Mortgages used?
- Supplemental Income is needed.
- Prescription Drug costs are strapping your monthly budget.
- Avoid Foreclosure.
- Home Remodeling
- Purchase Life Insurance
Is my home eligible?
The home must be a single family home or a 1-4 unit building with 1 unit occupied by the borrower. HUD approved Condos are also available.
How much money can I get from my home?
There are a few differnet variables that go into this caluclation. Basically the more your home is worth, the older you are, the lower the interest rate, the more money you can access. You can use this Calculator to estimate your particualar situation. Just keep in mind this is a calculator from a 3rd party website and we are not responsible for the accuaracy of this information nor do we endorse this site.
What are my payment receipt options?
You have five options:
- Tenure - equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
- Term - equal monthly payments for a fixed period of months selected.
- Line of Credit - unscheduled payments or installments, at times and in amounts of your choosing until the line of credit is exhausted.
- Modified Tenure - combination of line of credit with monthly payments for as long as you remain in the home.
- Modified Term - combination of line of credit plus monthly payments for a fixed period of months selected by the borrower.
Kay Brooks is our Reverse Mortgage Specialist. Be sure to contact her for any questions you have as well as get details on your particular situation! Office: 660-438-9720
3-15-2010
Today's Rates
| Conventional 30 Year Fixed |
5.125% | |
| 5.223% APR | ||
| 4.875% | ||
| 1 Point Paid | 5.055% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| Conventional 20 Year Fixed |
5.000% | |
| 5.132% APR | ||
| 4.750% | ||
| 1 Point Paid | 4.993% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| Conventional 15 Year Fixed |
4.375% | |
| 4.540% APR | ||
| 4.250% | ||
| 1 Point Paid | 4.489% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| FHA 30 Year Fixed |
5.000% | |
| 5.240% APR | ||
| 4.750% | ||
| 1 Point Paid | 5.067% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| VA 30 Year Fixed |
5.000% | |
| 5.273% APR | ||
| 4.750% | ||
| 1 Point Paid | 5.101% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| USDA 30 Year Fixed |
5.250% | |
| 5.520% APR | ||
| 5.000% | ||
| 1 Point Paid | 5.349% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
"Shawn Von Talge was very helpful throughout this whole process. I trust him completely and would highly recommend doing business with him."
Don & Kerri Wilkerson
"Shawn Von Talge provided me with exemplary service and truly brought professionalism and patience in equal parts to my home buying process. As a first-time buyer, I had many pre-conceived notions and concerns about the lending process…..especially with the current lending market being such a challenge. Shawn answered each question appropriately and remained accessible through every step of the process. Most importantly, Shawn delivered on every promise he made and no one (first timer or seasoned investor) could possibly ask for more!"
Dennis Lewis
"Tina (Howard), I just wanted to say thanks again for all of your hard work in helping me buy my first home. I truly believe I couldn't have done it without you by my side. We are very pleased with our home and have already started some big projects. Corey and I crack jokes all the time about "Welcome to homeownership". Thanks again! It was a pleasure and I feel like I picked up a new friend."
Corey and Trisha Wright
Jessica Robertson was absolutely amazing from beginning to end. Thank you so much for everything!
Valerie Partch
"I was very lucky to have Eric Hemmer help me in the process of my mortgage loan."
Alfredo Armas
"Shawn did a wonderful job at helping me through the buying of our first house. He helped guide me through the financial part of this long process. I do not think I could have made it through this whole thing without him. Thank you!"
Max and Catherine Davis
"Shawn Von Talge was very knowledgeable and helpful during the loan process. He was happy to answer any questions I had and always returned phone calls in a timely manner. I was made to feel that no question was trivial or unimportant. I was treated respectfully and everything I needed to know was thoroughly explained. Shawn even made suggestions on moving and furniture buying. He went beyond what was expected and I appreciated all of his help."
Carolyn Adams
"Shawn Von Talge was very good in meeting all our needs during the mortgage process. He is very personable & very timely."
Ron & Faye Singleton
"Shawn Von Talge went above & beyond the call of duty. I will most certainly keep his business card handy! We love our new home."
John & Susan Shelby
We were supposed to close on a Monday and on the Wednesday before that the first company we tried working with told us they would not be able to get everything don by Monday. Thinking the situation was hopeless, we contacted Jessica Robertson at Flat Branch Mortgage. I know a loan in 3 days is not standard, but she pulled it off and we didn’t lose our house, earnest money, or anything- thank you!
Chris and Stacey Sisk
