One Reverse Mortgage offers three types of home equity conversion mortgages, all of which are insured by the FHA. Aside from specific requirements of the loan, we can customize the loan to your individual needs.
The Line of Credit is an option that provides financial flexibility and is recommended by many financial advisors. The line of credit can be utilized in the following ways:
The fixed rate loan disburses money in one lump sum after the loan closes and locks the interest rate in place at the time of closing. The interest rate is the same for the duration of the loan. This loan option is typically used to:
Using a reverse mortgage, you can purchase a new home with no monthly mortgage payments required as long as you live there.** With this loan option, a larger down payment is required. Here are some things to know about this loan:
For those who do not qualify for a reverse mortgage, we can also provide other solutions for situations that require a mortgage. We now offer competitive rates for traditional mortgages in most of the United States. If you are interested in learning more about these products, click .
Here are the mortgage products we offer.
Adjustable Rate Mortgage (ARM): Fixed interest rate for 5, 7, or 10 years, the interest rate may change once per year.
YOURgage: You choose the term of your mortgage. Fixed rate terms for anywhere between 8 to 30 years.
FHA Loan: Flexible. Affordable. Insured by the government and available in 30- or 15-year fixed rate or adjustable rate.
30-Year Fixed Mortgage: Payments based on interest rate, principal loan amount. Payment does not change through 30-year life of the loan.
15-Year Fixed Mortgage: Payments based on interest rate, principal loan amount. Payment does not change through 15-year life of the loan. Pay less interest than 30 year fixed.
Jumbo Loans: Mortgages for purchase or refinance over conventional loan limit and available up to $3,000,000.
FHA Streamline: Refinance program from the FHA helps you get a lower rate on your FHA mortgage.
At One Reverse Mortgage, our licensed specialists are here to answer questions and help with your decision. One of the great advantages of working with us is that your licensed specialist is with you throughout the entire process.
* Please consult your financial advisor.
** Homeowner is responsible for property taxes, homeowners insurance and maintenance of the property.
These advertisements and materials are not provided nor approved by the U.S. Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA).