Wants an affordable financial solution to let him take advantage of more equity in his high-value home. Has a reverse mortgage and wonders if she can refinance it to take advantage of today's better terms. Has decided a reverse mortgage is a good solution, but is curious to see just how much he could receive.
Estimated home value: The amount of proceeds you receive is based on the appraised current value of your home. Existing mortgage balance: If you are still paying off a traditional mortgage, part of the reverse mortgage loan must first be used to pay off any existing mortgage. Then any remaining cash can be used for other wants or needs.
Estimated home value: The amount of proceeds you receive is based on the appraised current value of your home. Existing mortgage balance: If you are still paying off a traditional mortgage, part of the reverse mortgage loan must first be used to pay off any existing mortgage. Then any remaining cash can be used for other wants or needs.
Services
With full processing and closing functions, Longbridge has everything you need to succeed with reverse mortgages. Channel expertise to help reverse mortgage originators of all experience levels increase long-term profitability. Designed for seniors with higher home values, our Platinum Line of Credit Program offers more cash than a standard HECM and more flexibility than a HELOC-including a reusable, growing line of credit.
A simple way to get a quick, online estimate - our easy-to-use calculator requires no registration or personal information. Reverse mortgages can add an important piece to your clients' retirement strategies by taking advantage of the equity in their homes. For those who have an existing mortgage, a Home Equity Conversion Mortgage (HECM) can eliminate monthly mortgage payments, freeing up often-substantial funds to use as they wish.
Yes-we can be your lender for life. And that includes lending our expertise. So if you'd like to take advantage of a lower interest rate or access more cash, refinancing your reverse mortgage may be a great option. Longbridge Financial is a full-service lender, with a variety of reverse mortgage products that can help you live the retirement you imagine.
The experts at Longbridge Financial can help you understand your options. Although a Home Equity Conversion Mortgage Line of Credit (HECM LOC) and a Home Equity Line of Credit (HELOC) are both credit lines secured against your home's equity, they differ in several key ways. The best loan for you will depend on your situation and financial needs.
Actually, right here is a great place to start. Whether you've heard about a "HECM Mortgage, " "Home Equity Conversion Mortgage, " "HECM Reverse Mortgage, " "HECM Loan, " or "Reverse Mortgage, " it's all the same thing: the FHA-insured loan program designed to let homeowners age 62 and older tap into their home equity and get cash to use as they wish.
Reviews (2)
Nicole N.
Mar 31, 2021
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My mother has her reverse mortgage through Longbridge and her home sustained heavy damage in storm and required new roof and drywall repair. The event happened in August and an insurance payment was made in October. Longbridge has cashed my mothers insurance check and has not given a dime to my mother for repairs. They also do not answer the phone and only go through messages. I feel as if my mother has signed her only investment away to a stranger with no communication and no morals .
Jako
Aug 18, 2020
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I have a reverse mortgage with THIS company and by email with the certification form attached, I requested an adjustor to inspect my home for the completed repairs.
I sent an email with homeowners certification to their Reverse mortgage department email as instructed. This form states:
"I certify that the repairs to the above property have been satisfactorily completed and there were no contractors, sub-contractors, or material handlers involved. We further agree to hold the Reverse Mortgage Department harmless to any future damages pertaining to these repairs."
In the email I requested a date
I sent an email with homeowners certification to their Reverse mortgage department email as instructed. This form states:
"I certify that the repairs to the above property have been satisfactorily completed and there were no contractors, sub-contractors, or material handlers involved. We further agree to hold the Reverse Mortgage Department harmless to any future damages pertaining to these repairs."
In the email I requested a date
