“Finally! Good News For Oregon Seniors With High Value Homes – Borrow Up To $2,250,000 – With No Monthly Payments.”
You, just like every other senior in Oregon with a high-dollar home, have probably never considered a reverse mortgage because of the severe loan limitations. Because of your home’s value, you could only borrow a small fraction of what your home was worth. With the loan limits at that time, you could not fulfill your financial needs.
The good news is there is finally a reverse mortgage option available for senior homeowners whose homes are valued at $1.3 million dollars and higher. This new jumbo reverse mortgage is the only one of its kind on the market and was just recently rolled out and made available in Oregon.
Does A Jumbo Reverse Mortgage Make Sense For You?
There are all kinds of reasons why you should consider a jumbo reverse mortgage regardless of whether you are “house rich and cash poor” or “flush with liquid assets.” Here are some of the most common reasons people get a jumbo reverse mortgage.
Pay off any existing mortgages on the property to free up additional monthly income.
- Protect assets in the market during down turns by utilizing a reverse mortgage line of credit to supplement or replace the income from those assets.
- Pay for remodels, upgrades or additions to your home.
- Help family members with a down payment on a home, help pay for college or help them during financial emergencies.
As you can imagine, that list could go on and on. The fact of the matter is that a jumbo reverse mortgage will allow you to gain access to your equity in an amount that before now was unavailable. Not only can you now borrow more money, there are no monthly payments required with this type of loan.
How Does A Jumbo Reverse Mortgage Work?
It is a loan for senior homeowners 62+ that requires no monthly payments. Interest and fees are added to the loan balance on a monthly basis. You receive a lump sum based on your age and home value.
There are no payments due until you vacate the property for 12 months due to illness, the property is sold, interest is transferred or the mortgagor passes away and leaving no eligible surviving spouse to maintain the property as their primary residence. You must continue to pay taxes, insurance and other costs related to homeownership. You, your estate and your heirs can never owe more than the home’s value.
Request A No Cost Proposal
Interested and want to learn more?
Wondering how much you could borrow?
Give me a call today at 541-773-3131 for a no cost and no obligation proposal.
Getting started is easy and there is no risk on your part. Just give me, Matt Allen, MLO-254296, a call today at Pacific Residential Mortgage, 541-773-3131. With just some very basic information I can give you an idea as to how much you might qualify for.
I can answer any questions you might have and address any concerns. I’m also happy to speak with any of your family members about this program as to how it will help both you and them.
Again, there is no cost to speak with me about your situation, ask questions or request a proposal.
I truly look forward to speaking with you.
Matt Allen – MLO 254296
Sr. Reverse Mortgage Banker
Pacific Residential Mortgage LLC
1555 E McAndrews Rd Suite 301
Medford, OR 97504
Toll Free: 1-888-382-9590
NMLS 1477 / WA CL-1477