Can You Imagine a Reverse as a Fixed Rate 2nd With No Payment?
Now you don’t have to imagine, because with a Homesafe 2nd it’s a reality!
If income is your problem, a 2nd TRUST DEED REVERSE Mortgage may be the solution.
If you are a California homeowner, age 55+, you may be a great candidate for this new loan option designed for those who need additional cash to fight inflation and address economic uncertainty.
It’s a loan that complements your existing mortgage, unlocking a piece of your stored equity without the burden of a new monthly payment or the need to refinance, and while the loan balance grows over time, it doesn’t need to be repaid until you leave your home.
Reverse 2nd Mortgage Estimate Request Form
Submitting this form automatically registers you for a $500 credit toward your home appraisal if we are managing your loan. This commitment is good for 50 days from date of submission!
Note: This site is meant to serve qualified California homeowners only.
Features at a Glance
Turns equity into usable cash
No new monthly payments
No impact on current mortgage
Featuring Loans up to 4 million that you can:
- Consolidate high-interest credit card debt
- Buy an investment property
- Cover rising costs at the pump and grocery store
- Fund long term medical care, medical expenses, or emergencies.
- Pay for home improvements
- Use however you like
Borrower Qualifications:
- Minimum age 55+ for California borrowers
- Must be current on your first mortgage
- Property must be your primary residence
- Minimum FICO score of 600 (with financial assessment)
- Must maintain the property and be up to date on property taxes, insurance, and any HOA fees.
How it Works
STEP 1
Be a homeowner with a fixed rate mortgage in good standing looking to access home equity.
STEP 2
Find out how much you may qualify for and discuss how a second mortgage can help you.
STEP 3
Speak to third party counselor to ensure the loan is a good fit and get your home appraised.
STEP 4
Receive your funds with no new monthly mortgage payments and take a second to breath.
Summary
With this proprietary reverse style 2nd mortgage you can get the equity you want from your home without committing to a full on Reverse Mortgage. With no additional mortgage payment and the ability to spend the money however you see fit, you may find yourself breathing a sigh of financial relief.
While we covered most of the information here, like who it can help, how it can help, and how it works, there are more details available. If you are interested in exploring this one of a kind financial option, please contact us:
Call (925) 640-8050
The borrower must occupy the home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees. Charges such as an origination fee, closing costs and/or servicing fees may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property.
Second mortgage reverse is a fixed rate mortgage and not a line of credit. Interest rates change daily. Call for pricing. No prepayment penalty. Program may change without notice. Not all borrowers will qualify. Minimum credit score is 600. Borrower must meet income requirements. If credit score is over 720 the income is stated with no income documents required. Once the remaining borrower departs from their home the loan is due and payable within 6 months. After 6 months the heirs can request up to two 3 month extensions.
These materials are not from HUD or FHA and were not approved by HUD or a government agency.