Financial peace of
mind starts here.
Learn how a reverse mortgage can help you gain greater financial security, and a better retirement.
We’re here to help – (480) 720 – 7777
What would your life be like with a reverse mortgage loan?
Real borrowers. Real stories. Real solutions.
The Nunes Lending Team powered by Barrett Financial is a approved wholesale broker for many reverse mortgage lenders. We shop for the best rates for our customers.. Below are a few testimonials from loans that were clsoed with our preferred reverse mortgage lenders.
My home is My Sanctuary.. My mother left it to me and I thought if I have to move, what am I going to do? You know.. I’m going to miss all this stuff. It is my sanctuary..
All of a sudden I was in financial trouble and I went right to my Attorney Michael, who I’ve known all my life and told him what happened and he said “I know what you should do! You should get a reverse mortgage!” So he called the secretary over and she brought in a letter of someone that he had gotten a reverse mortgage for. He said she loves it and she said that in the letter. It was a sigh of relief and I was waking up at night with like a boulder on my head because I was scared and full of anxiety. I have anxiety about my kids right now, sometimes. But, I don’t have any anxiety about money anymore.
I was losing money because I was helping people in my family and I don’t want to get personal there but some people at time’s needed a lot of help in our family then the gas, well… went out and I was having trouble with the solar power. I had listened to the ads and I did understand that nobody took your house from you. Tom Selleck is of head credibility and a man like Tom Selleck would not go on an advertisement if he didn’t believe in the product. I feel safe, I feel secure, and nobody can take this away from me. That’s all there is to it. That I don’t go out of here until I’m going out feet first and that gives you a feeling of safety, a feeling of security and happiness.
My background is Finance..so I looked up different companies. I saw AAG and went over there and said that’s the one! I looked at that and said this is gonna make everything come true. And what was so great about it was.. My grandson and my grandkids are really just right up the street so it was sort of just made for me. The money that I got with the purchase using a Reverse Mortgage allowed me to not only purchase the property but also allowed me to rehab the place because you want to have the kids, the grandkids, and the family over. You want to say “This is my place, look! I’m right next to the water!” It’s a good thing.
Tap into home equity with no monthly mortgage payments.
Can you really eliminate monthly mortgage payments? Yes. As long as you continue to pay property taxes, homeowner’s insurance, and maintenance costs, you can stay in your home without mortgage payments until you leave it.
(480) 720-7777
What Is a Reverse Mortgage?
The most common type of reverse mortgage is a loan insured by the Federal Housing Administration (FHA), which is also called a HECM. It allows you to access your home equity and turn it into cash. Borrowers choose a reverse mortgage because it allows them to remain in their homes, as long as they meet the loan terms, and provides funds that can greatly supplement their retirement income.
Eliminate Monthly Mortgage
Without the burden of a monthly mortgage payment, you can free up cash to cover other important expenses.*
Access Cash
The proceeds are tax-free** and can be used in various ways, like paying health care costs or financing home renovations.
Stay in Your Home
With a reverse mortgage loan, you can afford to stay in the home you love and age in place.*
Who Is a Reverse Mortgage Good For?
Reverse mortgage loans have helped more than one million Americans nationwide access their home equity to find greater security in retirement. The loan can be used in a number of ways, many of which are helping older adults achieve their financial goals and have a much better retirement.
The Pragmatic Planner
Convert your home’s equity into monthly payments to supplement income and maintain your standard of living in retirement.
The Homebody
Never want to move? Get rid of your monthly mortgage payment and finance renovations so your home continues to meet your needs.*
The Eager Retiree
Ready to leave behind the daily grind? Eliminate your mortgage payments and access cash so you can afford to enjoy the next phase of life.*
The Maximizer
Did you purchase your home when prices were low or has your home value grown over the years? Use the monthly or lump sum payments from a reverse mortgage loan or the proceeds from a refinance loan to supplement your social security and other income without tapping into your investment portfolio.
The Safety-Net Seeker
Establish a standby reverse mortgage line of credit that will grow over time and help cover you if unforeseen expenses arise.
How a Reverse Mortgage Loan Works
With a traditional reverse mortgage loan, borrowers can access their home equity without having to pay principal and interest.* It’s called a “reverse mortgage” because, unlike a traditional loan where the borrower makes payments to the lender, the lender makes payments to the borrower. The loan is repaid when the last borrower or eligible non-borrowing spouse passes away or leaves the house.
- The borrower remains the owner of the home and retains title.*
- The amount you can borrow depends on your age, property value, and interest rate. The older you are, the more equity you’ll have access to.
- The borrower must continue to pay property taxes and homeowner’s insurance, and must keep the house in good repair.
- As a non-recourse loan, the borrower will never owe more than the house is worth. If the loan balance exceeds the home’s value, the Federal Housing Administration will cover the difference.
- There are different types of reverse mortgages and the funds can be disbursed in a number of ways.
Who Qualifies for a Reverse Mortgage Loan
Traditional reverse mortgages were established in 1989 to help older homeowners age in place. As a government-insured loan, there are several important requirements borrowers must meet to qualify.
- You must be at least 62 years old.
- You must own your home.
- The home must be your primary residence.
Features and Safeguards
The HECM reverse mortgage product has been improved over the years so that it can better meet the needs of older adults. Today, there are important safeguards in place to ensure that it can continue to help consumers for years to come.
- You must complete reverse mortgage counseling with an independent counseling agency.
- You must undergo a financial assessment to ensure you are able to meet the financial obligations of the loan, which includes the ability to pay your property taxes and homeowners insurance.
- If your spouse is younger than 62, they can qualify as an eligible non-borrowing spouse and remain in the home even if you leave or pass away, so long as they continue to meet all loan obligations.*
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