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Florian Steciuch's Answers

Are seller concessions allowed on all types of loans?
Seller concessions are NOT allowed on reverse mortgage for purchase loans.Email me with any questions: askflorian@gmail.comThank you
Can you qualify if you have two mortgages and at 125% loan to value
That is not a problem if you are seeking a reverse mortgage - but I do need more information ( Licensed in Indiana.
Is it common that a home seller pay the buyers points 3%
It is fairly common - it keeps the buyer's out of pocket cash lower. They can use the concession to lower their rate as well.
Does a reverse mortgage carry title as JohnDoe revocable trust, or just John Doe, if you want your property to remain in in a trus
Reverse mortgages can close with the property in trust. A complete copy of the trust must provided, then reviewed by underwriting. An amendment to the trust is usually required (provided by the lender). I welcome any questions. I am a full-time reverse mortgage specialist and work with attorneys and...
what is minimum fico needed for reverse mortgage thank you
Currently there are no FICO score requirements. However, we anticipate a financial assessment in the next few months that may make it more difficult to secure a reverse mortgage. Feel free to email me any questions: thank you.

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