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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Eagle Home Mortgage's Homebuyer Solutions Group

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Interest rates have dropped!

Get Your Home Equity Working for YOU and Refinance Today 

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September 20 2018

Terms to Watch for in a Purchase Contract

Every home sale starts with a home purchase agreement—a legally binding contract signed by homebuyers and sellers that confirms that they agree upon a certain purchase price, closing date, and other terms. While the forms and wording vary from state to...

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The Best Home Improvement Projects for You

If you’re exploring home improvement options, you know there are a lot of tips out there. But there are most likely just two reasons that you would be researching major home improvement projects: You either want to improve your home, or you absolutely need...

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Preparing an Emergency Supply Kit

Every September is recognized as National Preparedness Month, and as our nation braces for another natural disaster, it is important to reflect on your own preparedness. Do you have an emergency supply kit? Do you know where your family would evacuate to if the...

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8 Questions to Ask Your Lender

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September 10 2018

Understanding Title Insurance

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How to Make Your Home More Salable

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Alexa Commands You Can Use Every Day

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Notarize and Eagle Home Mortgage Join Forces to Complete a Fully-Digital Mortgage Closing in Texas

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August 30 2018

Eagle Home Mortgage Hosts Back-To-School Drive for Local Foster Children

Eagle Home Mortgage hosts Back-To-School Drive and raises $2,327 in donations for Treehouse Wearhouse, in an effort to help local foster children in the greater Seattle area.

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