REVERSE MORTGAGE

Reverse mortgages have been around since 1961. In essence, these loans allow you to tap into the equity of your home and access a portion of that equity in the form of cash - and also stop making your monthly mortgage payments, except for taxes and insurance - but some programs even lump those expenses into the loan. There are certain requirements such as the person must be 62 years of age, and has to occupy the property full time. There are also limits that lenders are willing to go up to - and other limits set by the government. This type of loan can lift a huge burden off the back of the right individuals, but might not be a perfect fit for everyone. Many people don't understand how it works if you die prematurely - or what happens if you end up owing more than the house is worth. Will the bank own your home in the case you pass? FLiP Creative Consulting knows the professionals with the answers to these questions - and more. If you are seriously looking at maximizing your options, and are at least the age of 62, with equity, and occupy the property... It's time to explore a reverse mortgage and then make the move. #MoveToFLiP

Meet Walter Armendariz, LIC #01212462

I’ve been in the mortgage industry for over 25 years, and I'm highly versed in Fannie Mae, Freddie Mac, FHA, VA, jumbos and unconventional loans. With over 4 years in processing loans, 6 years of underwriting experience, and 10 years as a whole sale manager -my specialty is fitting EACH INDIVIDUAL client to the BEST loan program available for them.
As YOUR experienced and dedicated lending professional, it is my duty and responsibility to ensure that you fully understand the home financing options that are available. This is crucial to ensure you are making the best choice for you regarding your financial situation and your long and short term financial goals.
Together, we’ll look at your finances, your current situation and your plans for the future to determine the type of financing that will best suit your needs. A home is the largest purchase most people make in their entire lifetime. I will make sure it's handled the CORRECT way.

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Blog Post

Jun 08, 2017 @ 8:42pm

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Should I “buy term insurance and invest the difference”?

The best answer to this age old question is…. “maybe”. I hear these type of phrases often, but the fact of the matter is that statement is too generic for…

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