Reverse Mortgage Loans
A reverse mortgage, as offered by Lifestyle Lending, is a financial arrangement tailored for homeowners typically aged 62 or older. Instead of making monthly payments to a lender, the homeowner receives payments from the lender, effectively turning a portion of their home equity into cash. This arrangement allows retirees to supplement their income without selling their home. The loan is repaid when the homeowner sells the property, moves out permanently, or passes away, at which point the proceeds from the sale of the home are used to repay the loan. Lifestyle Lending ensures that homeowners can access the value of their home while retaining ownership and the ability to reside in it. It's a strategic option for those seeking financial flexibility in retirement, leveraging the equity they've built over the years.
4 Simple Steps To A Reverse Mortgage
Application Process:
Begin the journey towards a reverse mortgage with Lifestyle Lending. You benefit from their dedicated support in navigating the paperwork, a critical juncture for propelling the process forward.
Lender's Due Diligence:
Once your application is submitted, the Lifestyle Lending will perform due diligence. This includes assessing your property's value, your financial situation, and ensuring all criteria for the reverse mortgage are met. This step is vital for the lender to make a decision.
Appraisal:
Lifestyle Lending initiates the appraisal process by ordering a professional assessment of the client's house to determine its current market value. This crucial step helps ensure that both Lifestyle Lending and the client have an accurate understanding of the property's worth.
Time to Celebrate!
After all the steps are completed and your reverse mortgage is approved, it's time to celebrate! This financial decision can provide you with additional income or funds, offering peace of mind and financial security in your retirement years.
How to Improve Retirement? No Monthly Mortgage Payments!
If you're a homeowner approaching or already in retirement, a reverse mortgage could potentially enhance your monthly cash flow. Unlock the equity in your home to remain in your cherished house or utilize the funds to acquire a new property.
Why Choose A Reverse Mortgage?
Use Proceeds To Pay Off Existing Forward Mortgage Or Other Debts
Make Home Renovations
Fund In-Home Care
Travel The World
Heirs Are Never Personally Responsible For The Loan
Provide A Living Inheritance And Help Pay For Children's Homes Or Grandkids College
You Still Own Your Home And Are Free To Sell It Anytime
You Don't Need A Mortgage To Qualify
Less Than 1% Of CFBP Complaints Were For Reverse Mortgage
Increase Cash Flow
Contact Us
Thinking about a Reverse Mortgage? Contact us today to learn about the process!
Contact Us
Address
1204 W South Jordan Parkway, Unit CB
South Jordan, Utah, 84095
Phone
801-488-2006
info@lslending.com
The Lifestyle Experience
Why Work With Us
Transparency
One of our core values is complete transparency with our clients. It is woven into the fabrics of our business. You can expect honesty and trust when working with us.
Lower Rates
We do the rate shopping for you. One of the benefits of working with us is we can shop your loan around with dozens of lenders to make sure you are getting the best loan terms for your situation.
Lower Fees
We don’t believe you should spend more on your dream home so we can earn more. Our fees are lower than our competitors so you keep more money in your pocket.
Faster Closing Times
Your perfect home is waiting for you. Enjoy faster closing times so you can start living your dream as quickly as possible. We can close loans in as little as 10 business days.
Better Service
Securing your home shouldn’t be stressful. Get better service and care without compromising on value. We save our clients on average around $9500 using a broker over a big bank. We are also local to our markets and have more knowledge than an online lender or retail bank.
FIND OUT HOW MUCH HOME
YOU CAN AFFORD
Discover exactly what you can afford before you start searching for a home. Before embarking on your home search journey, discover precisely what you can afford by utilizing our home purchase qualifier tool.
