If you’re fortunate enough, you’re a senior citizen that’s able to pay off the remainder of your mortgage with no issues at all. If, however, you’re like others, paying off the mortgage can prove to be a challenge, causing you to look through lists of qualified reverse mortgage lenders in Washington DC. And if you happen to be one of them, then you know just how burdening it can be looking for lenders.
All the reverse mortgage lenders in Washington DC are more than willing to offer you an amazing deal that looks promising. But it’s crucial that you’re mindful of the fact that while such offers appear tempting, you should also be aware that not all reverse mortgage lenders in Washington DC offer the same set of terms. So if you’re done with being frustrated over trying to find the greatest loan lender, phone the experts over at American Bancshares immediately. Our organization is filled with industry professionals ready to help you.
Our 20+ years of experience has accumulated due to the unmatched services provided by our staff members who possess a deep devotion to empowering communities. And because of this, we are widely recognized throughout Washington DC as the greatest Washington DC reverse mortgage lenders. If you would like to learn more about why you should hire us as well as what a reverse mortgage is, then continue reading below.
We here at American Bancshares are widely known and respected for being one of the most established Washington DC reverse mortgage lenders. But moreover, We’re even acknowledged for being a reliable reverse mortgage lender. Thanks to our 20+ years of experience, we’ve helped numerous partners and helped countless communities. Because of our work, our services have extended far across to various regions of the nation.
Our organization’s structure was planned and designed by the best industry experts who possess a deep understanding of the modern home financing market. In contrast to banks, our organization offers mortgage products, meaning that all of our reverse mortgage lenders in Washington DC are licensed and well-educated in mortgage lending. Their expertise hasn’t only allowed them to provide clients with ethical and professional advice, but has also assisted clients 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:
Most of our staff — including our senior management — have held every single position in the mortgage industry. Because of this, we’re able to gain amazing insight from countless different and unique perspectives paired with deep knowledge about the industry. Plus, with numerous different viewpoints about the industry, we’re able to be flexible with industry trends while still being able to effectively and efficiently provide clients unequal services 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 Washington DC that will help you acquire the luxury property you want to buy.
You’ve been living in 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 this day and age, you have to be careful when you’re applying for a reverse mortgage in Washington DC. Washington DC reverse mortgage lenders you seek services from may try to scam you. This is why you should always receive a reverse mortgage from reputable reverse mortgage lenders in Washington DC.
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
Instead of you, the homeowner, having to make 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 you wish 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 will also be able to keep the title of your home and your debt will 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 become deceased, the proceeds from your home’s sale go to the lender to ensure repayment of 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.
When you’re ready to purchase your desired property and need assistance from qualified reverse mortgage lenders in Washington DC, Florida, 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. For any inquiries, you may call us at 1-833-937-2276 or request a free consultation online.
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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and ABSM is a Licensed Mortgage Lender. NMLS No.217378 (www.nmlsconsumeraccess.org)