While these loans are available, Our company does not offer them at this time.
Would you like an income from your Home? Monthly payments,a lump sum, or a line of credit is available with a Reverse Mortgage! Use the money for whatever you'd like-supplement your retirement income, make home improvements, hire additional help or simply spend it on whatever you wish-it's your money.
Minnesota homeowners who are 62 years old or older and own their home may want to evaluate their options for obtaining a REVERSE MORTGAGE. There are no income or credit qualifications-only age and available equity are the criteria.
Description: Reverse mortgages allow you access to your equity. Repayment of the loan is due when the home is either sold,transferred, or if you no longer have the home as your primary residence. You are not ever in jeopardy of losing your home-even if the outstanding mortgage balance exceeds the value of the home. We service all of Minnesota as we are a Minnesota mortgage broker serving Minneapolis, St Paul the 7 county metro area, as well as Greater MN.
Consider the following:
Stay in your home longer-access your equity for a better life! Choose apartment or assisted living when you are ready-not out of necessity. Are you cash poor but equity rich? This may be a solution to the problem of making ends meet.
You don't pay on the loan until you or your heirs pay it off-instead the home pays you from the equity you decide to access. You are eligible to access more equity as you become older. Generally speaking, you can typically get about 50% of a home's value.
Must be age 62 or older and own an owner occupied qualifying property-NO INCOME or CREDIT required on these loans. If you face a foreclosure, a reverse mortgage could save your home.
Reverse mortgages require a mandatory counseling session from a qualified and approved agency prior to taking out the loan. You will be given all the facts. We encourage participation with your family. Heirs are not being disinherited.
Reverse mortgage programs are both FHA and conventional. Sometimes one will provide more access to your equity than the other.
You may be able to use a reverse mortgage to purchase a new home. This means you could get a new home WITHOUT a mortgage payment. You would put down the equity that was required and take out a reverse mortgage for the difference.
Information about reverse mortgages in Minnesota is just a phone call away. You are under no pressure nor any obligation. Get the facts, then make the right choice for YOU! Please make sure you explore this site and review our reverse mortgage articles as well. These reverse mortgage articles provide a lot of extra information that will answer your questions about reverse mortgage applications and uses as well as qualifying criteria.
Watch and learn from our Minnesota Reverse Mortgage videos:
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John Mazzara is a licensed Realtor and is affiliated with RE/MAX Results, 7300 France Ave S, Suite 410, Edina, MN 55435. Each RE/MAX office is independently owned and operated. John has sold homes since 1986 in Edina and throughout the entire Minneapolis/St. Paul Metro area. We have a lot of relocation resources for relocating to MN. Search for Minnesota Homes via our online MLS search at http://www.minneapolisstpaulhomes.com/ or
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NMLS # John Mazzara - 332556, Patti Mazzara- 333279 Venture Development State Of MN Originator License #20183304
This communication is provided to you for informational purposes only and should not be relied upon by you. RE/MAX Results is not a mortgage lender and so you should contact a mortgage broker or lender directly to learn more about its mortgage products and your eligibility for such products.
Regarding specific blog postings, external links and any other information found on this site, neither John Mazzara nor RE/MAX Results assumes any responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. John Mazzara and RE/MAX Results are not associated with the government, and our service is not approved by the government or your existing lender. Even if you accept this offer and use this site and/or our services, your lender may not agree to change your loan should you decide to pursue a short sale or any other change involving your loan or loan terms and conditions. If you should decide to engage our services in marketing your home as a short sale, there will be no up front cost to you and you may cancel our listing contract at any time.
