Changing Lives.

Reverse Mortgages from GMFS Mortgage


        
            Reverse Mortgages from GMFS Mortgage

A GMFS Mortgage reverse mortgage is a unique loan insured by the Federal Housing Authority (FHA) that allows senior homeowners 62 years old or older to convert part of the equity in their homes into available cash... without having to sell the home, lose title, or make a monthly mortgage payment. The FHA also refers to reverse mortgages as Home Equity Conversion Mortgages (HECM). Request Free Consultation

How a Reverse Mortgage Can Work For You:

  • Create a growing line of credit for all cash needs
  • Payoff your existing mortgage
  • Supplement your retirement income
  • Consolidate your debt
  • Increase your monthly cashflow
  • Provide cash for emergency needs

RICHARD M.

5 Star GMFS Mortgage Customer Review
"The Reverse Mortgage that my wife and I did has been the greatest experience of our lives. It was everything that they said and then some. It has freed up money to make life much easier. 5 Stars"

 

Facts about a Reverse Mortgage:

  • No monthly mortgage payments required (interest will be accruing on the loan)
  • Similar fees and closing costs as a typical FHA loan
  • Homeowners are still responsible to pay their homeowner's insurance and property taxes
  • Loan proceeds are tax-free and may be tax-deductible upon loan repayment*
  • Loan proceeds may be paid in a lump sum, monthly payments, line of credit or any combination
  • No repayment of the loan until the last borrower moves out permanently or passes away
  • Homeowner's estate can choose to repay the reverse mortgage which includes the interest accrued or put the home up for sale

Qualifications for a Reverse Mortgage:

  • At least one homeowner must be 62 years of age or older
  • Ideally the home should be a single family home, or 2-4 unit home with 1 unit occupied by the borrower; or a HUD approved condominium
  • The home must be and remain your primary residence
  • You must own the home and have enough equity to qualify
  • There are some residual income requirements set by HUD
  • Any existing mortgage balance on the home must be paid off with the proceeds of the Reverse Mortgage
  • You must discuss the program with a HUD approved counselor

Why GMFS Mortgage for Your Reverse Mortgage?

  • Since 2008, GMFS has originated and funded over 2,500 Reverse Mortgages in multiple states
  • GMFS has been “CHANGING LIVES.” with GREAT customer service since 1999
  • Free, no obligation consultation by an experienced GMFS Mortgage Reverse Mortgage Specialist to determine the right home loan solution for you
  • In-house underwriting and processing
  • GMFS is a member of the National Reverse Mortgage Lenders Association (NRMLA)
  • A+ rating with Better Business Bureau

 *Consult your financial advisor

EILEEN G.

5 Star GMFS Mortgage Customer Review
"Everything was handled with ease and patience...He was a real gentleman and partner in securing my new reverse mortgage. I would do it again in a few years.....as a new widow...he put me at ease. Very satisfied! 5 Stars"

BETTY F.

5 Star GMFS Mortgage Customer Review
"The person who assisted me for the Reverse Mortgage was excellent. 5 Stars"

DAVID K.

5 Star GMFS Mortgage Customer Review
"It was excellent. I had my phone calls returned promptly or my phone calls were answered which was even better. Everyone acted professionally and knew what they were talking about. I will spread the word if anyone asks me about a Reverse Mortgage I have my own file of GMFS on my desk,  5 Stars"

Request a Free Consultation with a GMFS Mortgage Reverse Mortgage Specialist