Can You Do A Reverse Mortgage On A Condo

If you live in a condominium, before you start making plans that include a reverse mortgage, you should know about the rules for condominium projects that have prevented many borrowers from being able to obtain a reverse mortgage. If you’re curious if you can buy a condo using an FHA loan..

Can You Do A Reverse Mortgage On A Condo – mapfretepeyac.com – [[RUBATO]]You can get a reverse mortgage if you own a condominium, as long as it is your principal residence. reverse mortgages are not limited to single-family detached homes.

Reverse Mortgage Condo Changes Allow for Spot/Single Unit. – If you are a homeowner age 62 or older and would like to learn more about reverse mortgages and how you can qualify for a HECM on your condominium call us toll free (800) 565-1722 or request your quote here.

If you live in a condominium, before you start making plans that include a reverse mortgage, you should know about the rules for condominium projects that have prevented many borrowers from being able to obtain a reverse mortgage.

For those living in condominiums, getting a reverse mortgage isn’t as simple as it is for most homeowners. If you live in a condominium, you will need to meet specific requirements and fulfill unique application procedures before acquiring a reverse mortgage. Let’s take a closer look at many of the most common regulations applicable to condominiums.

Calculate How Much Money You Can Get. The amount of proceeds you receive is based on the appraised current value of your home, your age and current interest rates. Try our Reverse Mortgage Calculator now. Your Reverse Mortgage Road Map — Calculate how much money you can get.

If you were asking if you could use a reverse mortgage to purchase the condo, you could if the current. If your home is a condominium, you can get a reverse mortgage on it if it’s on the U.S. department. pay homeowner’s-insurance premiums and property taxes.

If you are looking to take out an FHA reverse mortgage against your condo or are looking to buy a retirement or vacation condo using an fha reverse mortgage purchase loan, it’s important to know that the rules are completely different from fee simple properties (where you own the land in addition to the building).

Reverse Mortgage Without Fha Approval This allowed reverse mortgage lenders to fund FHA loans in condominium projects not previously approved without having to get the entire project submitted for approval if the reverse mortgage lender was willing to make a relative few certifications.Reverse Mortgage Of Texas Welcome to Slade Mortgage Group, Inc. We are a Cape cod mortgage broker committed to serving our friends and neighbors today and tomorrow. Since opening our doors in 1997, we have dedicated ourselves to serving our clients in Cape Cod, Massachusetts, and Florida.