Why Your Retirement Plan Should Include a Reverse Mortgage – So the counselors have full control on whether you can get a reverse mortgage or not. They have to give you a. For example, the jumbo products that we have will cover a non-FHA-approved condominium.
Equity conversion – WASHINGTON (MarketWatch) — Question: I have many questions regarding the Home Equity Conversion Mortgage. as for your final question, any condo that meets fha requirements can be purchased through.
How Much Equity Do You Need For A Reverse Mortgage Here's what you need to qualify for a reverse mortgage | 2017. – Here’s what you need to qualify for a reverse mortgage What to expect when applying for a home equity conversion mortgage. April 6, 2017. Caroline Basile.
Information About Reverse Mortgage Reverse Mortgage Calculator. Do you want to estimate what your remaining equity balance will be a few years out from today? Use this free calculator to help determine your future loan balance. This tool is designed to show you how compounding interest can make the outstanding balance of a reverse mortgage rapidly grow over a period of time.
So, the shocking truth about reverse mortgage with condominiums is that even though you may not owe anything on your unit and you may meet the age requirements, the project may prevent you from being able to get a reverse mortgage. We see more projects being declined then approved at this time by about a 2 – 1 ratio.
Want to get a reverse mortgage on a condo? Learn how to get your condo association approved by the FHA, if it’s not already.. Condo board can request fha approval. steve mclinden @bankrate .
Frequently Asked Questions About Reverse Mortgages | Know. – Can I add a borrower to the reverse mortgage? No, reverse mortgages do not allow co-borrowers to be added after origination. Where can I get help if I am struggling to pay my property-related expenses?