Everything you need to know about the FHA Insured HECM* Mortgage and Reverse Mortgages
to Stay In Your Home
You will find all the information that you’ll need to make an educated decision,
about what is right for you, within the pages of this website. You will learn what a Reverse Mortgage is, understand how it works, and see how this FHA HECM Program
can best suit your needs.
Stay In Home Mortgage is currently the largest independent reverse mortgage broker
in Washington , Oregon , Idaho , and is also recognized as a Top 25 Reverse Mortgage
Provider in other states such as California, Arizona, Nevada, Hawaii, New Mexico,
Utah, Florida, North Dakota, Minnesota, Michigan, Alaska and Colorado. We attribute this success to our Senior Home Advisors who first help by educating you, the homeowner, on the value of a FHA Insured HECM Mortgage and
or other types of Reverse Mortgages
to Stay In Your Home as long as you live in your home.
*The Home Equity Conversion Mortgage (HECM) is the Government’s version of the reverse
mortgage and 100% FHA Insured.
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BLOG DISCUSSION TOPIC:
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June 22nd, 2009
Why is the Rate Lock Feature Important to Me?
The Reverse Mortgage
rate lock dictates the amount of money you are able to obtain from the equity in
your home. Lenders can set the expected interest rate on the Federally Insured Reverse
Mortgage (variable rate programs only) at the time of the Loan Application, or at
closing, whichever brings the lower expected interest rate. The expected interest
rate is not to be confused with the loan interest rate; the expected rate is used
solely to determine the loan principal limit (amount
available to you)...
Continue reading on our Blog
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“I was drowning in debt and creditors were about to sell my house. My income was too low for a conventional loan, but my Reverse Mortgage Specialist came in and patiently educated me on the program. All my debts were cleared, my house was saved, and I now have the peace of mind to go on with my life.”
-Gloria Casey LOS ANGELES, CA