MORTGAGE LOANS

See which loan program is best suited for you and your family.

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REVERSE MORTGAGE

HGM’s Reverse Mortgage Program

You’ve worked hard to build the equity in your home. Now it’s time to make that equity work for you! A Reverse Mortgage helps homeowners ages 62+ take advantage of their home equity to retire with more financial freedom and flexibility. No more crunching numbers, no more figuring out the finances of retirement. Eliminate your monthly mortgage payments (Borrower still responsible for taxes and insurance), increase monthly cash flow, and reimagine the possibilities of retirement with a Reverse Mortgage.

Reverse Mortgage Highlights

  • Access the equity in your home by:
    • Taking out a lump sum of cash
    • Receiving consistent monthly payments
    • Opening a line of credit
    • Or any combo of the above
  • No monthly mortgage payments required
  • Retain complete ownership of your home!
  • No up-front appraisal cost

Reverse Mortgage Eligibility

Just like other home loans, Reverse Mortgages require that you and your home meet certain requirements.

Borrower requirements:
  • At least 62 years old
  • U.S. citizen or permanent resident alien
Property eligibility:
  • Primary residency
  • 2-4 unit single-family property, PUD, townhome, or condo
  • Has sufficient equity (if you’re not sure, ask us!)

You will also be required to continue paying for your homeowners insurance, maintenance & any other fees like HOA dues, etc. This ad is not from HUD or the FHA and was not approved by HUD or any government agency.

Benefits of a Reverse Mortgage

Reverse Mortgages offer numerous benefits to retirees. Besides, removing monthly mortgage payments, it can help enhance your retirement in other ways as well like allowing you to pay off high-interest debt, help family with expenses, travel around the world, and check all those items off your bucket list!

Learn more from our info kit and how it can help you!

FIND OUT MORE

The loan process for a reverse mortgage is slightly different than other loans. There are seven main steps in the reverse mortgage process. Our licensed reverse mortgage specialists will work with you to personalize your experience and ensure that you have all of the information necessary to make the right decision for you and your family!

  1. Meet with a loan officer.
    If you haven’t connected with one of our amazing loan officers yet, head to https://www.homeguidemortgage.com//find-loan-officer to find your perfect match!
  2. Talk through personalized loan proposal
    Your loan officer will create a personalized loan proposal with multiple options from which you can choose.
  3. Complete HUD-approved counseling
    Choose from a list of independent, third-party, FHA-approved counselors and attend a Reverse Mortgage consultation with them.
  4. Complete your application
    Once counseling is complete, your loan officer will help you complete your application. Once your application is complete, we will submit it and order the appraisal. At CMG, there is no out of pocket expense for the appraisal, the cost will be rolled into your other closing costs.
  5. Submit all necessary documents and await approval
    We will submit your loan to underwriting where the documents are reviewed, finalized, and prepped for closing.
  6. Provide your processor any additional information required
    After your loan is approved, your underwriter may request some additional documentation, which your processor will collect from you.
  7. Close your loan and receive funds!
    When your loan is ready to close, we will arrange for a notary public to come to you and finalize the loan documents. At closing, you will sign the necessary papers and receive the funds from your Reverse Mortgage!
CONVENTIONAL

CONVENTIONAL LOAN

With low down payment options available

GOVERNMENT

FHA LOAN

Available with down payments as low as 3.5%

GOVERNMENT

VA LOAN

100% financing for eligible Veterans, Reservists and Active Duty Personnel

GOVERNMENT

USDA LOAN

Available in designated rural and suburban areas

SPECIALTY

JUMBO LOAN

A loan for every lifestyle

SPECIALTY

ALL IN ONE LOAN

Get financial flexibility and pay off your home loan faster

GOVERNMENT

203K RENOVATION LOAN

Turn the house you like into the home you love

CONVENTIONAL

FANNIE MAE HOMEREADY

Flexible funding with down payments as low as 3%

CONVENTIONAL

FREDDIE MAC HOMEPOSSIBLE

More possibilities with down payments as low as 3%

SPECIALTY

HOMEFUNDIT

Gifts from family and friends fund your down payment

GOVERNMENT

REVERSE MORTGAGE

Available for homeowners ages 62+

SPECIALTY

HELOC

Turn your home equity into cash in as little as 5 days

SPECIALTY

CMG COMMUNITY ONE GRANT

Purchase a home within a specific zip code with as little as 1% down payment.

GOVERNMENT

FANNIE MAE HOMESTYLE® RENOVATION

Low down payments, big possibilities.

CONVENTIONAL

CONVENTIONAL LOAN

With low down payment options available

CONVENTIONAL

FANNIE MAE HOMEREADY

Flexible funding with down payments as low as 3%

CONVENTIONAL

FREDDIE MAC HOMEPOSSIBLE

More possibilities with down payments as low as 3%

GOVERNMENT

FHA LOAN

Available with down payments as low as 3.5%

GOVERNMENT

VA LOAN

100% financing for eligible Veterans, Reservists and Active Duty Personnel

GOVERNMENT

USDA LOAN

Available in designated rural and suburban areas

GOVERNMENT

203K RENOVATION LOAN

Turn the house you like into the home you love

GOVERNMENT

REVERSE MORTGAGE

Available for homeowners ages 62+

GOVERNMENT

FANNIE MAE HOMESTYLE® RENOVATION

Low down payments, big possibilities.

SPECIALTY

JUMBO LOAN

A loan for every lifestyle

SPECIALTY

ALL IN ONE LOAN

Get financial flexibility and pay off your home loan faster

SPECIALTY

HOMEFUNDIT

Gifts from family and friends fund your down payment

SPECIALTY

HELOC

Turn your home equity into cash in as little as 5 days

SPECIALTY

CMG COMMUNITY ONE GRANT

Purchase a home within a specific zip code with as little as 1% down payment.