Reverse Loan Guide has worked with many seniors in Texas, helping them borrow from existing value of home. We had one client, a married couple, both in their 70’s and co-owners of a $200,000 house. They were able to take out $113,000 at today’s rates or opt for a $700 monthly payment for life. They did not  need good credit, a high income or savings to qualify. Call me, Bob Heckler, if you have questions on Texas Reverse Mortgages (512) 328-2225.

How much you can borrow comes down to these four factors:

• Value of your house
• Where you live
• Current interest rates
• Your age

For an estimate of what size loan you could qualify for, go to ReverseLoanGuide.com.

Texas Seniors keep these three goals in mind when seeking information on Reverse Mortgages.

Monthly Income – A reverse mortgage means a regular check to supplement your pension, investments or Social Security. A small one for life or a bigger one for just a few years.

A Credit Line - The most popular and potentially least expensive way to take out a reverse mortgage is through a line of credit. You pay interest only on the money you withdraw, and the amount you can tap in the future keeps growing as you age.

Debt Management - If you bought a home late in life or had to dip into home equity to fund big expenses like college tuition, you could very well find yourself still paying off a mortgage deep into retirement. Refinancing into a reverse mortgage can erase that monthly payment.

If you want more information, please call Bob Heckler at (512) 328-2225 and visit our website at Reverse Loan Guide.