Z Reverse Mortgage
Z Reverse Mortgage-Home loan for senior citizens
Reverse Mortgage is a type of a home loan that is offered to homeowners who fall in the senior citizen bracket. It is a way in which you can convert your home equity into cash. It is a government insured program. Instead of paying mortgage the lender makes cash payment and so it is termed as reverse mortgage.
The eligibility criteria demands the minimum age limit as 62 years for you and your spouse. Also the property to be mortgaged needs to be used by you or should be your primary residence. It should be FHA approved like it should be a condominium that is HUD approved, or an individual family home.
How is Z Reverse Mortgage helpful?
Z Reverse Mortgage is a company that is a certified service provider in the field of reverse mortgages. They provide the senior citizens with all required information pertaining to reverse mortgages. This company provides all necessary assistance from getting the right loan to determining the value of the property to arranging the process of reverse mortgage. They do it all. It is one of the most popular reverse mortgage companies in Florida. It also is a popular service provider for reverse mortgages in Illinois and California.
Z Reverse Mortgage is a facilitator
Be assured this company is not a lender, it only provides and initiates your connection with the lenders and or financial institutions for reverse mortgages. So if you want to earn a monthly amount from your home equity then please go ahead and contact them. Their dedicated team of professionals specializing in reverse mortgages will answer all your queries and provide perfect suggestions.With the years of experience they carry they will arrange for the best value of your home. They are one of most established reverse mortgage companies in Illinois, California and Florida.
Working of Z Reverse Mortgage
The first step is to meet the eligibility criteria. So for that you need to visit their website, feed in your details and check out for the estimated value your home. The next step is to contact them with your queries regarding reverse mortgage. Then you need to work with them in finding a certified lender for the reverse mortgage process to go on. Finally once a lender is selected, apply for the program and start receiving a monthly income for the mortgaged house.
Z Reverse Mortgage Products
Based on your interest rate and the kind of disbursement you want this company helps you develop your own reverse mortgage plan.
Tenure – Equal payments each month till you survive.
Term – Equal payments each month for a fixed term.
Line of Credit – Till your line of credit you can withdraw any amount anytime.
Modified Tenure – Combination of tenure and line of credit.
Modified term – combination of term payments and line of credit.
Single Disbursement – Upon closure of the mortgage you receive a lump sum amount.
So Z Reverse Mortgage connects you to the reverse mortgage lenders of Florida, California and many other states.