The housing market in Portland, Oregon is considered to be somewhat competitive. Homes typically go for 1% above listing price at an average sales price of $439,500. The average home value is around $467,621. At this value, a borrower in Portland with a fair credit score may be eligible for a loan upwards of $200,000.
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One way to increase your wealth during retirement is with a reverse mortgage. Yet finding reputable brokers isn’t always easy. To ensure you receive the best deal, you need to apply for your reverse mortgage at South River Mortgage. We’ve been helping retired seniors increase their wealth for years. Here’s what you need to know about our services in Portland, Oregon.
Loans require you to pay them back. A mortgage is a type of loan. Understandably, you may wonder how a reverse mortgage can increase your wealth. The secret is that these kinds of loans are based on your home’s equity. You’re taking out a loan on the equity of your home.
With our reverse mortgage brokers in Portland, Oregon, you don’t have to pay your loan back in your lifetime. Instead, your home’s equity will do that. After you pass, your estate will sell the house and pay back the loan. By that time, your home should have continued to grow its equity to cover the loan and the accrued interest. Yet you must choose the right brokers to ensure the sale of the house is enough to cover the loan.
Reverse mortgages in Portland, Oregon are a great solution for seniors who need extra money. You don’t have to worry about monthly payments. The source of the loan comes from something that would just be sitting there otherwise since you have no intention of moving.
It’s a great way to invest, save, or cover your expenses. You can live comfortably after using the services of our reverse mortgage brokers in Portland, Oregon.
We know there are tons of different brokers out there in Portland, Oregon. Reverse mortgage lenders typically offer high rates for their services because their loans come from one place. The sale of your home might not be enough to cover the loans.
When you need the best reverse mortgage plan in Portland, Oregon for your case, you need ours. Our reverse mortgage brokers work with multiple lenders to find you the right plan for your situation. We do the shopping on your behalf.
Our reverse mortgage brokers are also experienced. When it comes to your money, you don’t want them in the hands of inexperienced reverse mortgage lenders. Trust your money and time with us.
If you’re ready to see how an equity mortgage can make you wealthy, contact our reverse mortgage brokers in Portland, Oregon today. You can try out our calculator to see what your mortgage quote may look like. Call our team to start applying today.
HUD-Approved Counseling Agencies in Portland, Oregon
|NEIGHBORWORKS UMPQUA||(541) 673-4909||605 SE KANE STROSEBURG,|
|OPEN DOOR COUNSELING CENTER||(503) 640-6689||34420 SW TUALATIN VALLEY HWY|
HILLSBORO, OR 97123-5470
|NEIGHBORIMPACT ||(541) 318-7506||2303 SW 1ST ST BLDG C REDMOND,|
|NEIGHBORHOOD ECONOMIC DEVELOPMENT |
|(541) 345-7106||212 MAIN ST SPRINGFIELD, |
How a Reverse Mortgage Works
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For many people, aging in place can provide a higher quality of life than living in a senior care facility. It is not the best
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