More and more seniors have gotten reverse mortgages in Bridgeport to help fund their retirement life.A reverse mortgage in Bridgeport CT may be the answer you are looking for to help make your dreams a reality. Not only does it provide an excellent way of accessing money with low monthly payments, but there is also no need to pay back any interest at all while you are living in the home. I’m one of the top reverse mortgage loan officers in Bridgeport CT and I know that this could work out well for anyone in search of home-ownership or those who want more financial breathing room. Reverse Mortgages are becoming more popular as the opportunity to retire is being pushed back. For Bridgeport CT retirees who have paid off their house and now need additional income, HECMs provide an option that can be a way for seniors to stay in their homes while they receive financial assistance from these loans at no cost or without having them pay any interest on it.

The Basics of a Reverse Mortgage in Bridgeport CT

A Bridgeport reverse mortgage is just a mortgage. There are lots of bells, whistles and features that come with it--it's not your average loan! But the most incredible feature of this one? It doesn't require monthly payments if you don't want them to be made. Borrowers can make voluntary payments at any time in any amount they choose instead. As the nation's leading reverse mortgage lender in Bridgeport CT, we have a responsibility to make applying for money more economical for everyone. This is why our rates are lower than other banks and you can avoid paying extra fees with us bestateuse of how little advertising that we do!

What Age Do You Need to Be To Get A Reverse Mortgage in Bridgeport CT?

Many people in Bridgeport CT are cautious about looking into a reverse mortgage bestateuse they think it's too good to be true. There are conditions, however, this loan is legitimate bestateuse it has been regulated by HUD and is insured by FHA. The vast majority of homes that would qualify for a reverse mortgage are single family houses, manufactured homes where you own the land (ie: mobile), townhomes and multi-family buildings such as condos. Condos may also be eligible if they meet certain FHA requirements; however other types of Bridgeport CT housing not mentioned here might still disqualify from eligibility so it's best to make sure before applying!

Is it a Difficult Process Getting Approved for a Reverse Mortgage in Bridgeport CT?

Applying for a reverse mortgage in Bridgeport CT is no different than any other mortgage. We always recommend the first step be meeting with an expert from a Bridgeport reverse mortgage company to get all of your questions answers, review preliminary numbers, see if you be approved for the loan and if it suits your needs. it's important to get all your questions answered. But what if the process was reversed? What is an expert a Bridgeport CT reverse mortgage doing when they first meet with someone who wants one of these loans?

Have Questions? - Call Me

A reverse mortgage can be a great choice for many people looking to enhance their retirement lifestyle in Bridgeport CT or take away the burdens of financial stress. However, it's important to do research first so you know if this is right for you and what repercussions may come with taking out such an action. I am happy to answer any and all of your questions about getting a reverse mortgage in Bridgeport CT. I have a ton of experience, so feel free to ask me anything! A reverse mortgage can help you get out from under your monthly mortgage payments, but it also comes with hidden fees that could cost thousands of dollars over time. You have to watch out for these fees when applying for a reverse mortgage so make sure to do your homework before signing any papers!

I talk with senior home owners in these areas also: Fairfield, Stratford, Trumbull, Westport, Easton Most people want to talk with someone that is not only local, but is also an expert at reverse home loans. Quite frankly I agree with this. Why on earth would you want to do business using someone over the phone when it’s possible to deal with a lender in Bridgeport face-to-face?