YouTube LinkedIn twitter Google Plus Facebook

follow us:

Call with your mortgage questions today.

800-346-8047

When you think mortgage, think TexasLending.com!
 

Texas Reverse Mortgages

What Is a Reverse Mortgage?

A reverse mortgage is available to seniors 62 or older and can enable homeowners to convert their home equity into cash to meet financial needs that appear during retirement age. This type of loan can be used to supplement income to pay for additional costs that become harder to cover after retirement.

You may choose a reverse mortgage if:

Once a homeowner qualifies, reverse mortgage loan proceeds can be disbursed in several different ways such as a single lump sum, monthly payments, unscheduled payments for when you need it most, and many others. The value of your home, your available equity in your home, your age, and interest rates will determine the maximum reverse mortgage loan amount you can receive.

Other benefits:

How Do I Qualify for a Reverse Mortgage in Texas?

There are 3 major qualifications for reverse mortgages.

Other considerations to make:

Why Choose TexasLending.com for your reverse mortgage?

With TexasLending.com reverse mortgages, you know you’re making the smart choice. Here’s why:

Contact Texas Lending today to find out more about a reverse home mortgage. One of our highly professional and experienced people can talk to you about the advantages and disadvantages of taking out this type of loan. Call us or fill out the contact form on the right-hand side of this page, today.

 

Key Factors

 

Factor Conventional Mortgages Reverse Mortgages
Major Qualification for Loan Income, Assets, Credit History and Employment Home Value and Age of Applicant(s)
Minimum Age to Qualify 18, 21 62
Primary Factor Used to Qualify for Loan Borrower’s ability to repay Home Value and Age of Applicant(s)
Maximum Loan Amounts and Loan-To-Values Driven by Home Value and Borrower’s Credit History Driven by Home Value and Age of Borrower(s)
Credit Scores Used to determine LTV and maximum loan amounts Not used at all
Allowed Occupancy Types Primary Residence, Second Homes, Investment Properties Primary Residence only
Proving Income, Assets and Employment Generally required on most loans Only needs to be stated, never verified or used for qualification purposes

 

Unlike conventional mortgage customers, you do not have to worry about your credit score or meeting income requirements with a reverse mortgage. Find out how easy it is to qualify by contacting us today!

 

Key Factors Table

Factor Conventional Mortgages Reverse Mortgages
Major Qualification for Loan Income, Assets, Credit History and Employment Home Value and Age of Applicant(s)
Minimum Age to Qualify 18, 21 62
Primary Factor Used to Qualify for Loan Borrower's ability to repay Home Value and Age of Applicant(s)
Maximum Loan Amounts and Loan-To-Values Driven by Home Value and Borrower's Credit History Driven by Home Value and Age of Borrower(s)
Credit Scores Used to determine LTV and maximum loan amounts Not used at all
Allowed Occupancy Types Primary Residence, Second Homes, Investment Properties Primary Residence only
Proving Income, Assets and Employment Generally required on most loans Only needs to be stated, never verified or used for qualification purposes
 

Recent Blog Posts

Our Customers Love Us

"Thank you, Thank you, Thank you. My wife and I are extremely pleased with our new home, not only did we close on the house in record time (2 weeks!), but you also decreased the initial interest rate by 2.4%! Your a miracle worker :) I will tell everyone I know to call you when looking for a home."

Gary
Read more from our customers

Current Rates

Type Rate APR
Conv. 30 Year Fixed 3.750% 3.970*%
Conv. 15 Year Fixed 3.000% 3.350*%
Conv. 5 Year ARM 3.625% 3.625*%

As of Wednesday, October 15, 2014

More rates - Click here
*All rates above quoted with 1% origination
*20% Equity with loan amounts of $165,000+
*Subject to credit & income requirements
Click here for rate conditions

CCA BBB FHEO