Here at Fairway Independent Mortgage Corporation, we offer a variety of loan options that can help you achieve homeownership with the speed and service you deserve. Plus, our mortgage professionals are dedicated to finding the right loan with great rates, terms and costs to meet your specific needs.
Results of the mortgage affordability estimate/prequalification are guidelines; the estimate isn’t an application for credit and results don’t guarantee loan approval or denial. All home lending products are subject to credit and property approval.
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· So, one could argue that these borrowers might say that reverse mortgages are not too good to be true. They really are good. Learn more about the pros and cons of reverse mortgages. Selleck Says: A Reverse Mortgage Loan is a Simple Idea Really. On this point, some people might disagree. A reverse mortgage loan is like a mortgage – but in reverse.
ARLO is the only reverse mortgage calculator of its kind to offer you instant and accurate eligibility across 2019’s best reverse mortgage programs. ARLO will instantly generate a quote that includes your available loan amount and current interest rates. Best of all, ARLO will retrieve the most suitable program for your individual needs.
Reverse Mortgage Pros and Cons – What You Need to Know Written by LeeAnn Reynolds on October 18, 2017. So you’re thinking about getting a reverse mortgage. If you’re at least 62 years old and meet all of the requirements, a reverse mortgage can be a great way to access extra funds.At the same time, a lot of people aren’t sure whether or not a reverse mortgage is right for them.
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· In October 1981, the average interest rate on a 30-year fixed-rate mortgage was a whopping 18.45%. In essence, having a mortgage was a lot like having a credit card. In essence, having a mortgage.
The lender will add a "margin" to the index to determine the rate of interest actually being charged. The margin used in our calculator is 250 basis points (2.50%). You might find reverse mortgage originators that offer higher or lower margins and various credits on lender fees or closing costs.