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can i get reverse mortgage if my home is paid off

by charan_726_177 from , . Oct 26th 2012 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

Absolutely... Having a home paid off is the ideal situation to take out a reverse mortgage.. Keep in mind reverse mortgages are a specialized loan product, so be sure to use someone who is experienced in doing them.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Oct 26th 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 1,904 contributions

Yes. Having no mortgage on your property does not exclude you from obtaining a reverse mortgage. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Oct 28th 2012
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Jason Hall (JasonHall)
#25 ranked lender in Utah - 79 contributions

Yes you definitely can as long as you are over 62. Details depend on a number of factors, but I would be happy to run through them with you anytime.

Oct 26th 2012
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Sandy McKee (smckee)
#40 ranked lender in Arizona - 23 contributions

Yes, in fact the more equity you have in your home the more you can draw from a reverse mortgage assuming you are 62 years of age. There is no qualifying for a reverse mortgage as long as you meet the age requirement. Please check out my website at http://www.reversemortgagesintucson.com/. I would be happy to provide you estimates at your convenience. I can be reached directly at 520-907-3225. Thank you!

Oct 26th 2012
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James & Shannon Lechuga (lechugagroup)
#657 ranked lender in California - 4 contributions

Absoluteley! Simple and minimal requirements (62+ in age, substantial equity, owner occupied property). Here is some info for self explored research http://www.dfgmortgage.com/files/DFG_RM_NCOA_BOOKLET.pdfPlease give us a call at 888-550-8705 ext 1041 direct or check us out online @ http://www.dfgmortgage.com/reverse-mortgage.htmlJames & Shannon Lechuga

Oct 26th 2012
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Linda Wintersteen (Linda123)
#62 ranked lender in Arizona - 1,256 contributions

yes , are you the only one on your title?? how much is your house worth? do you need monthly payments back to you, or are you looki ng for a lump sum? linda you can email me at yourloanpartnerforlife@live.com

Oct 26th 2012
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GLENDA SWEITZER (GLENDA SWEITZER)
#1 ranked lender in Montana - 2 contributions

Yes you can. If you are 62 or older. I can help you with applying for this type of loan and would be happy to share my information with you. I can be reached at tcm@bitterroot.com or 406-363-4630. I am excited about this type of mortgage and thrilled when I can truly help someone in need. I would love to talk to you about the ins and outs of this program.Sincerely,Glenda SweitzerTowne & Country Mortgage, Inc.Reverse Mortgage Specialist

Oct 26th 2012
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Jason Vondrak (jvondrak)
#219 ranked lender in California - 1,741 contributions

Yes. As long as you meet the qualifying factor of being at least 62 years old. The more equity you have built in your home, the better for a reverse mortgage. Please let us know if you have any questions!

Oct 26th 2012
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,244 contributions

Yes, you must be at least 62 years of age or older.

Oct 26th 2012
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