If you live in Deleware and want to work with a local reverse mortgage specialist you have come to the right place. Because we are local, we can meet with your face to face in the comfort of your own home or at one of our mortgage offices located throughout Deleware.

We specialize in the Home Equity Conversion Mortgage or HECM (HECK-UM), also known as a reverse mortgage. It is all we do. When you work with us you know that you are working with loan officers that are going to be able to answer all your questions. And not only answer your questions but structure the loan in a way that will meet your financial needs now and into the future.

What Sets Us Apart from Other Reverse Mortgage Lenders in Deleware

We are a direct lender – What that means is that originate, process, underwrite, fund and service all our loans. The last part, we service our loan, we have found is very important to our clients in Deleware. They want to know that they will be working with us for the life of their loan.

We are referral based – Unlike several other lenders, we don’t spend millions of dollars a year on advertising. Because of this we can pass those savings on to you in the form of better interest rates and lower fees.

Continuous training – Our loan officers are required to attend continuous training on the reverse mortgage loan options as well as advanced planning and utilization techniques to ensure all of our clients in the Deleware area are being served in the best way and their reverse loans are structured properly.

It is not an easy decision to figure out if you should get a reverse mortgage in . Talking to a reverse mortgage specialist that is knowledgeable in {{all}} areas of this mortgage is critical to help make the decision of whether or not this is the right choice for you.

A mortgage originator must comply with tough ethical conduct. Each individual home loan needs to be structured to meet your needs and goals and objectives in the best way possible and in addition share with you all the terms and conditions of your home loan. They must not pressure you or steer you into a different type of loan, such as an annuity, that might not be to your advantage. We believe our fees and interest rates are some of the best in the marketplace, but you should go ahead and shop around to be sure you are getting the best deal. You shouldn’t feel guilty about just saying no, you need to make the right decision whether or not this is the appropriate loan to suit your needs.

Having understanding of this product is the key to everything. Learn about reverse mortgages prior to consulting with a reverse mortgage loan originator in . The key reason why for you to do your own research is so that you make the right choice and feel confident with that decision. The HUD website is the place we would recommend a starting point be when you are conducting research. The site goes over the basics including the pros and cons, how they work, the downside, and they explain everything.

A reverse mortgage is not the right product for everybody. For many people the reverse mortgage is the only solution, For others, there can be all sorts of options that should be taken into consideration. Make sure you give us a call if you need assistance determining if the reverse mortgage would be the right fit for you. A skilled loan originator will walk you through every stage of the process and answer all and any concerns you might have. Make sure you read our ethics policy to understand how we operate as a company.

What is a Reverse Mortgage?

Very simply, it is just like a regular mortgage with the exception that there are no monthly mortgage payments required. You still need to pay property taxes, insurance and maintain the home.
It is regulated by HUD and insured by FHA.

The Basics
• At least one spouse must be 62 or older.
• Your home in Deleware must be your primary residence.
• You can get a loan on a single family, multifamily up to 4 units, town home, HUD approved manufactured home and FHA approved condominiums.
• You will be required to attend counseling from a HUD approved counselor.
• You must continue to pay your property taxes, insurance and other property charges.
• The amount you can borrow is based on the youngest persons age, home value and current interest rates.
• You can access your home equity as a lump sum, line of credit, month payments for as long as you live in the home, monthly payments for a specific period of time or a combination of those options.

For those who don’t have a home in Wilmington, I also help customers in these areas: Bellefonte, Edgemoor, Elsmere, Greenville, Wilmington Manor, New Castle, Claymont, Pike Creek Valley, Pike Creek, Hockessin We’ve noticed that most older homeowners would like to talk with someone local to them. That is particularly true when there’s a local mortgage company right in Wilmington you can work together with directly.

Have Questions About Getting a Reverse Mortgage in Deleware?

There is no doubt that you have questions about getting a reverse mortgage in Deleware. We are happy to answer every question you have about this loan product.

Questions like:
• What is the downside to a reverse mortgage?
• What are the pros and cons of a reverse mortgage?
• How much can you borrow with a reverse mortgage?
• Is the reverse mortgage a good idea?
• Does it make sense to get a reverse mortgage?
• Does my home in Deleware qualify for a reverse mortgage?
• How does a reverse mortgage work?
• Are there risks to getting a reverse mortgage?
• What happens to the reverse mortgage when I die?
• Is the reverse mortgage a good fit for me?

While there are general answers to these questions. The answers will vary from each individual person. This is why you should talk with one of our local Deleware experts so you can get a personalized answer to your unique situation.