There are 3 Major Qualifications for a Reverse Mortgage
and servicing fees. Mandatory third party counseling is required for all Texas reverse
mortgages prior to application.
You do not have to worry about credit score or income requirements facing conventional
mortgage customers today.
- Age- All borrowers must be 62 or older
- Occupancy- Subject property / home must be the primary residence
- Property Type - Must be SFR, 1-4 Unit property, approved PUD or Condo
and servicing fees. Mandatory third party counseling is required for all Texas reverse
mortgages prior to application.
You do not have to worry about credit score or income requirements facing conventional
mortgage customers today.
How Do I Qualify for a Reverse Mortgage in Texas?
A reverse mortgage enables qualified borrowers to convert their home equity to meet their financial
needs
Approval is not based on Income or Credit.
needs
- No required monthly mortgage payments to make while you are still in the home.
- Loan proceeds can be disbursed in several different ways, including a combination of
options. - Value of home, available equity, borrower ages and interest rates will determine maximum
loan amounts.
Approval is not based on Income or Credit.
Reverse Mortgages
What Is a Reverse Mortgage?
| Pinnacle Mortgage and Lending 8000 IH-10 West Suite 600 San Antonio, TX 78230 Phone: 210-524-7750 Fax: 866-374-7751 info@pinnacleml.com NMLS# 573971 |
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