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'Qualifications' Category Archives

Reverse Mortgages on Modular Homes & Commercial Use Now Eligible

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All Reverse Mortgage is pleased to announce enhancements to our reverse mortgage guidelines in the following areas: Modular Home Eligibility Modular homes are an eligible property type. Definition: A modular home is constructed of pre-made parts and unit modules that are transported on a flatbed truck from the factory to the building site. At the building site, these house sections are...
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Condominium Approvals Creating Reverse Mortgage Problems

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2018 New Program Alert: All Reverse Mortgage® Now Accepts Non-FHA Approved Condominium Projects on our All-New Platinum Reverse Mortgage Request our Non-FHA Condo Quote Today!  Question from our Reader:  Janna How long does take now to get FHA project approval on a condo project that was built in the late 1960's and has been FHA approved many times before? The...
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Reverse Mortgage Income Requirements: Will You Qualify?

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UPDATE: Financial Assessment has been postponed until 3rd quarter 2012 Borrowers interested in taking out a Home Equity Conversion Mortgage (HECM), or government-insured reverse mortgage, should be aware that they may face a new financial assessment that will look at their monthly income & cash flow to determine whether or not they are eligible for a loan. Lenders have...
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