If you’re lucky, you’re a senior citizen that’s able to pay off the remainder of their mortgage with no hassles at all. If you’re like others, unfortunately, paying off the mortgage can prove to be challenging, resulting in them having to look through lists of qualified reverse mortgage lenders in Texas. And if you’re one of them, then you know just how burdensome looking for lenders can be.

A majority of the reverse mortgage lenders in Texas are more than willing to offer you an amazing deal that may seem to assure. But it’s imperative you keep in mind that while such offers are tempting, you should also be aware of the fact that not all reverse mortgage lenders in Texas provide the same set of terms. So if you’re done with being burdened about trying to find the best loan lender, call the professionals at American Bancshares right away. Our organization is filled with industry professionals ready to help you.

American Bancshares’ 20+ years of gained experience was achieved because of the unequal services provided by its team members as well as their deep devotion to empowering communities. And thanks to this, we are widely known throughout the state as one of the best Texas reverse mortgage service providers. If you wish to learn more about why you should hire us as well as what a reverse mortgage is, then continue reading below.

Why You Should Choose American Bancshares For a Reverse Mortgage in Texas

Our organization is widely known and even admired as one of the greatest and most established Texas reverse mortgage lenders. But also, American Bancshares is even recognized and appreciated for being a reliable mortgage lender. Thanks to our 20+ years of experience, we’ve helped to empower numerous partners and communities. And because of our work, our provided services have extended across to various regions of the nation.

American Bancshares’ organizational structure was planned and designed by numerous industry professionals who possess a deep understanding of the modern home financing market. Unlike banks, our organization offers mortgage products, meaning that all of our reverse mortgage lenders in Texas are licensed and well-educated in mortgage lending. Thanks to their expertise, they’re not only qualified to offer you professional advice, they’re also deeply dedicated to helping you in finding the right loan with a rate, terms, and cost-effectiveness that’s most beneficial to your best interests.

The organization of American Bancshares as a whole is deeply passionate about serving the community. And this is often due to the fact that our organization’s core values include:

  • Commitment
  • Integrity
  • Transparency

The majority of our staff have held a position in every single chair of the mortgage industry. And thanks to this, we’re able to gain amazing insight from countless different and unique perspectives. Additionally, with many viewpoints paired with deep knowledge about the industry, we’re able to be flexible with industry changes while still being able to effectively and efficiently provide clients with unparalleled service and first-in-class customer service that American Bancshares is widely recognized for.

American Bancshares possesses leveraged technology to provide you with a simple, straightforward, online stress-free mortgage application experience. Through us, you’ll be provided with our reverse mortgage in Texas that will help you acquire the luxury property you want to buy.

Reverse Mortgage in Texas

You’ve been a resident of your home for a long time now and you’ve just recently found yourself burdened with keeping up with mortgage payments. But if you’re 62 years or older and possess considerable home equity, you can borrow against the value of your property in whatever payment type best fits your needs. Unlike your typical mortgage loans, reverse mortgages don’t require that you make any loan payments.

In today’s day and age, you have to be cautious when you’re applying for a reverse mortgage in Texas. Texas reverse mortgage lenders you seek services from might attempt to scam you. This is why you should always receive a reverse mortgage from a reputable MLO in Texas.

When you speak with us, we’ll be able to indicate to you if a reverse mortgage is the best course of action for you

How a Reverse Mortgage in Texas Works

Instead of the homeowner making payments to the lender, a reverse mortgage allows the lender to make payments to you. As the homeowner, you’ll be able to choose how to receive these payments and you’ll only pay interest on the proceeds received. The interest is rolled into the loan balance so you won’t have to pay anything upfront. You’ll also be able to keep the title to the home. You’ll also have your debt increase as home equity is decreased.

As is often the case with a forward mortgage, your home will serve as the collateral for a reverse mortgage. When you move away or are deceased, the proceeds from the home’s sale go to the lender in order to repay the reverse mortgage’s principal, interest, mortgage insurance, and miscellaneous fees. For any sale proceeds beyond what was borrowed, they’ll go to you (if you are still alive) or to your estate (if you are deceased). In some cases, your heirs might choose to pay off the mortgage so they can keep the home.

Reverse mortgage proceeds are not taxable. While they might feel like income to the homeowner, the IRS considers the money to be a loan advance.

Hire American Bancshares For Their Reverse Mortgage in Texas

When you’re ready to purchase your desired property and need assistance from a qualified Texas mortgage lender, pick up the phone and call the experts over at American Bancshares. American Bancshares has been trusted by numerous clients for not only their professionalism and expertise but also for their devotion to helping you become a part of a better community. You can trust that with our deep knowledge and handiwork, you’ll become absolutely satisfied with our services. For any inquiries, you may call us at 1-833-937-2276 or visit us online to schedule a free consultation.

Our passion for growing communities

Servicing the community is driven by our core values of commitment, integrity, and transparency. Many of our team members and most of our senior management have sat in every chair of the mortgage industry, providing us with a full understanding of the business from all aspects. This in-depth knowledge is what allows us to quickly and efficiently adapt to industry change, while constantly providing you with superior processes and first-in-class customer service.

We have leveraged technology to bring you a simple, straightforward, online stress-free mortgage application experience.

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