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Marvis Baehr

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How to buy your next home without any monthly mortgage payments and without paying all cash.

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Reverse Mortgage Lender

Marvis Baehr

Reverse Mortgage Consultant | NMLS #402072 | 515-890-6262

Is a reverse mortgage right for you?

It can be scary making a major decision concerning your biggest investment, the place that means the most to you. Deciding whether a reverse mortgage is right for you takes much thought and consideration. I hope that the material on our website helps you in this endeavor, and even better that I have the opportunity to get to know you and serve your financial goals personally. 

Below are some common questions and answers about reverse mortgages. Please don't hesitate to contact me today for a no-obligation reverse mortgage evaluation. I would love the opportunity to speak with you.

What is a reverse mortgage?

A mortgage that allows you to use the equity of your home as cash, monthly income, line of credit or a lump sum. A reverse mortgage loan is a mortgage on your home that requires no monthly payments. You remain on title. The loan is paid back with the proceeds from the sale when you no longer live in the home.

How does a reverse mortgage work?

A reverse mortgage provides you with income from the equity of your home. Any funds used become a loan that will need to be paid back with interest when the home is no longer your primary residence.

On average, how much money does someone get from a reverse mortgage?

The amount of money you receive is determined by HUD guidelines including, the age of the youngest borrower, the home value and the current interest rate. We would be happy to run an illustration.

Who can qualify for a reverse mortgage?

A person must meet HUD requirements, be 62 years or better, the home is your primary residence, with enough equity and the ability to pay property taxes and home owners insurance.

How much equity do I need to get a reverse mortgage?

The amount of equity needed is determined by your age, value of your home and current interest rate. A quick calculation would determine this figure.

Can I pay off my reverse mortgage early? If so, how do I do that?

Yes! It can be paid off at any time with no penalty. You may use funds you have or by the sale of your home.

What happens to my reverse mortgage when I die?

Your estate is required to pay back the loan, usually with the proceeds from the sale of your home, in a timely manner. Any remaining equity will go to your estate.


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