Retirement August 21 2018

Are You Ever Too Old to Get Approved for a Mortgage?

Whether you’re looking to downsize into the upgraded home of your dreams, refinance to pay off your home a little quicker, or looking for some extra cash to help fund your retirement, we want you to know that nobody is ever too old to get approved for a mortgage loan. Age is never a factor in loan approval. Actually, it is against the Federal Equal Credit Opportunity Act for a lender to discriminate against a borrower because of age. So, whether you are 40 or 90 years old, age is just a number in the eyes of a lender. Fortunately, Eagle Home Mortgage offers a powerful financing option, designed for homebuyers age 62 and older. It provides the funds you need to buy the home that you really want.

TAP INTO YOUR HOME EQUITY

The Home Equity Conversion Mortgage (HECM) is unlike a traditional mortgage and will allow you to forego your monthly mortgage payment. This will help you increase your monthly cash flow. You even retain ownership of the home as long as you live in it. The loan only becomes due when you leave, sell, or fail to maintain the home.

A HECM loan can help you:

  • Consolidate debts
  • Refinance existing mortgage debt
  • Give you some extra cash flow
  • Fund large purchases like that new corvette you’ve been wanting to buy
  • Assist a grandchild who is about to head off to college

A really great bonus to this loan is that all single-family homes, townhomes, and Federal Housing Administration (FHA)-approved condos are all eligible for this loan!  You just have to use the home that you buy as your primary residence—so vacation homes or investment and rental properties are not included.

Ask your Loan Officer if a reverse mortgage makes financial sense for you.

SPEAK WITH A LOAN OFFICER

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Homebuyer Solutions Group Success Story

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Home Organization Tips to Spark Joy

There is a proven correlation between home clutter and stress. Organizing your abode is a quick and relatively easy way to bring more joy (and extra time) to your life. Here are some home organization tips to help you spark joy!

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Find the Right Home Loan For You

There are several types of mortgage loans that fit various needs. Here is some information about some of the most popular products and why they might work for you.

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Reverse Mortgage Myths Debunked

As a senior, age 62 or older, a Reverse Mortgage enables you to tap into the equity of your home and benefit you financially today! The funds you receive can be used to eliminate your monthly mortgage payment, pay off debt, increase your monthly cash flow, or...

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What to Expect: The True Cost of Homeownership

Most soon-to-be homeowners are prepared to budget for their mortgage payment and down payment, but you should go into your dream of homeownership with a clear picture of all of the costs associated with this milestone.

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October 09 2019

A Simpler Path to Homeownership with Credit Solutions

Interview with Credit Specialist, Sara Gellatly, to learn more about what HBSG is and how it helps real customers achieve their dream of homeownership. 

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October 03 2019

Digital Mortgage 19

Digital Mortgage 19 took place from September 23-24 in Las Vegas. Three of our Executives had the honor of presenting at the conference.

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September 24 2019

Understanding Your Loan Estimate

As part of your mortgage transaction, the Consumer Financial Protection Bureau (CFPB) requires that you receive a Loan Estimate at the beginning of your application process. You’ll receive a loan estimate within three days of submitting your mortgage...

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September 20 2019

Eagle to Attend Digital Mortgage 2019 Conference

The Digital Mortgage conference features keynote speakers, panels, and live demos. Attendees will learn from top mortgage lenders, including Eagle Home Mortgage.

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