Reverse Mortgage Alexandria VA | (703) 594-9229 | SLS Mortgage

Reverse Mortgage Alexandria VA | (703) 594-9229 | SLS Mortgage Reverse Mortgage Alexandria VA - http://sls-mortgage.com/reverse-mortgage - (703) 594-9229 - SLS Mortgage An Alexandria reverse mortgage offer seniors a way to use the equity in their homes to help finance their retirement. With people living longer, reverse mortgages can provide income when retirement savings aren't enough to cover living expenses. Also known as Home Equity Conversion Mortgages, or HECM's, reverse mortgages allow seniors to sell part of the equity in the home in order to get cash, without having to sell the home or take out a home equity loan. With a reverse mortgage in Alexandria VA, instead of making mortgage payments to a lender every month, the mortgage lender sends you money every month. You don't have to pay the money back for as long as you live in your home. Naturally, you must repay the reverse mortgage at some point: when you die, when you sell the house, or when you no longer live in the house as your principal residence. Most reverse mortgages require that you be at least 62 years of age, and live in the home. http://www.youtube.com/watch?v=SBmnQzNnUJE Types of reverse mortgages: There are three types of reverse mortgages: single purpose reverse mortgages; federally-insured reverse mortgages; and private reverse mortgages. A single-purpose reverse mortgage can only be used for one purpose specified by the government or a non profit lender. Some of the allowable purposes include home repairs, home improvements, or property taxes. Single-purpose reverse mortgages have very low costs associated with them, and are usually available only to those with low or moderate incomes. Federally-insured reverse mortgages are called Home Equity Conversion Mortgages (HECM's), and are backed by the U.S. Department of Housing and Urban Development (HUD). Because of the relatively high costs associated with HECM's, they are best suited for those who intend to stay in their homes as long as possible. To qualify for an HECM, you must first consult with a federally-approved housing counselling agency. The counselor will explain the costs, the financial implications, and the alternatives to Alexandria reverse mortgages. The amount of money that you can receive from an HECM depends upon your age, the type of reverse mortgage you choose, the value of your home, current interest rates, and other factors. Generally speaking, the amount you can receive will be higher if you have a lot of equity in your home. Also, your age will impact the amount you can receive; the older you are, the more you will likely receive. If you qualify for an HECM, you have several options as to how you will receive your payments. You can choose a fixed monthly payment over a specific period of time, or for as long as you live in your home. You can also set up a line of credit, from which you can draw funds from the loan proceeds at any time, and in whatever amounts you choose. Private reverse mortgages are very similar to government-run HECM's. The difference is that the money is being borrowed from a private lender, and the costs may be higher than government HECM's. However, those who own higher-valued homes may find that they will qualify more easily for a reverse mortgage going through a private lender, and may also get more money from the reverse mortgage than if they went with a government HECM. Features of Reverse Mortgages: You paid for your home with the the money you had left in your paycheck after taxes. Therefore, the loan payments you receive from a reverse mortgage are not treated as taxable income. This means that the payments will not affect your Social Security or Medicare benefits. While a reverse mortgage means that you are borrowing against your home, you still retain the title to the home. However, because you retain the title to your home, you're still responsible for repairs, property taxes, utilities, and other expenses, just as you would be with a conventional mortgage. Reverse mortgages involve closing costs, so be sure to interview several lenders to make sure that you're getting the best deal. A reverse mortgage means just what the term suggests: instead of the amount of money you owe on your home declining over time, the amount of money you owe on your home increases over time. How much can the amount you owe increase to? A "nonrecourse" clause is contained in nearly every reverse mortgage in Alexandria VA. The clause prevents you or your estate from owing more than what your home is worth when the loan is repaid. Article Source: http://EzineArticles.com/782347 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Reverse Mortgage Alexandria VA - http://sls-mortgage.com/reverse-mortgage

Reverse Mortgage Richmond VA | (804) 210-7373 | SLS Mortgage

Reverse Mortgage Richmond VA | (804) 210-7373 | SLS Mortgage Reverse Mortgage Richmond VA - http://sls-mortgage.com/reverse-mortgage - (804) 210-7373 - SLS Mortgage Richmond VA Reverse Mortgage Myths With all of the hoopla these days about the Reverse Mortgage for Senior program, it is important that we take a hard look at some of the myths that people are hearing about. 1. The Reverse Mortgage lender will own your home - FALSE! You and your family or your estate continues to retain ownership of your home at all time that the reverse mortgage is in place. The Lender does not take control of the title. The lender's interest is limited to the outstanding loan balance, just like a traditional mortgage. 2. Reverse Mortgage lenders just want to sell your house - FALSE! Lenders earn their income by helping you keep your home and meet whatever financial needs you may have in order to help you maintain financial independence. Richmond VA Reverse Mortgage borrowers may remain in the home for as long as they wish. However, should they decide to sell the home for any reason, the loan would then become due and payable. 3. Your heirs will be saddled with the Reverse Mortgage loan - FALSE! The Reverse Mortgage is a non-recourse loan. This means that the lender can only derive repayment of the loan from the proceeds of the sale of the property. When you no longer live in the home on a permanent basis, the home must be sold and the reverse mortgage repaid. If you are deceased, the remaining equity would be payable to your estate or heirs. 4. To get a Reverse Mortgage, you need a certain level of income, good credit, or good health to qualify - FALSE! A Reverse Mortgage has no income, credit, or health requirements. In fact, the terms of a reverse mortgage are dependent on your age, the location of your home and the amount of equity that you have in your home. You can even qualify if you are in bankruptcy action (although this may take a little longer!) 5. You have to make monthly payments on your Reverse Mortgage - FALSE! In fact, with a reverse mortgage in Richmond VA, the only monthly payments that are possible are payments TO YOU! Payment of taxes, insurance and general upkeep of the home are the only responsibilities of the homeowner. http://www.youtube.com/watch?v=0WLQEIN99a4 6. To qualify for a Reverse Mortgage Your home must be debt free - FALSE! Many people getting a reverse mortgage have a traditional mortgage or other debt instrument on your home. The mortgage or debt however, must be paid off first with the proceeds of the reverse mortgage. After this is paid, the proceeds of the reverse mortgage are distributed to you either a lump sum, by regular monthly payments, or though a Line of Credit. 7. With a Reverse Mortgage, Only the "cash poor" or desperate senior citizens can benefit - FALSE! Everybody has varying levels of cash needs from time to time. An unexpected medical bill or other family catastrophe can be handled gracefully by many with a Richmond reverse mortgage. Others like the idea of using the equity in their home for retirement income while still living there. Many folks just like the feeling of financial security they get by having funds readily available. While each of these situations is different, they can all be handled through a reverse mortgage. A Reverse Mortgage can also be an excellent financial or estate planning tool! While Reverse Mortgages are not for all seniors, they are certainly worth investigating, especially before you need them. When searching for information on Reverse Mortgages in Richmond VA, please remember the Law of the Barbershop - "Don't ask the barber if you need a haircut or you are sure to be clipped!" Article Source: http://EzineArticles.com/625569 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (804) 210-7373 (855) 571-8800 Toll Free Reverse Mortgage Richmond VA - http://sls-mortgage.com/reverse-mortgage

Reverse Mortgage Richmond VA | (804) 210-7373 | SLS Mortgage

Reverse Mortgage Richmond VA | (804) 210-7373 | SLS Mortgage Reverse Mortgage Richmond VA - http://sls-mortgage.com/reverse-mortgage - (804) 210-7373 - SLS Mortgage Richmond VA Reverse Mortgage Myths With all of the hoopla these days about the Reverse Mortgage for Senior program, it is important that we take a hard look at some of the myths that people are hearing about. 1. The Reverse Mortgage lender will own your home - FALSE! You and your family or your estate continues to retain ownership of your home at all time that the reverse mortgage is in place. The Lender does not take control of the title. The lender's interest is limited to the outstanding loan balance, just like a traditional mortgage. 2. Reverse Mortgage lenders just want to sell your house - FALSE! Lenders earn their income by helping you keep your home and meet whatever financial needs you may have in order to help you maintain financial independence. Richmond VA Reverse Mortgage borrowers may remain in the home for as long as they wish. However, should they decide to sell the home for any reason, the loan would then become due and payable. 3. Your heirs will be saddled with the Reverse Mortgage loan - FALSE! The Reverse Mortgage is a non-recourse loan. This means that the lender can only derive repayment of the loan from the proceeds of the sale of the property. When you no longer live in the home on a permanent basis, the home must be sold and the reverse mortgage repaid. If you are deceased, the remaining equity would be payable to your estate or heirs. 4. To get a Reverse Mortgage, you need a certain level of income, good credit, or good health to qualify - FALSE! A Reverse Mortgage has no income, credit, or health requirements. In fact, the terms of a reverse mortgage are dependent on your age, the location of your home and the amount of equity that you have in your home. You can even qualify if you are in bankruptcy action (although this may take a little longer!) 5. You have to make monthly payments on your Reverse Mortgage - FALSE! In fact, with a reverse mortgage in Richmond VA, the only monthly payments that are possible are payments TO YOU! Payment of taxes, insurance and general upkeep of the home are the only responsibilities of the homeowner. 6. To qualify for a Reverse Mortgage Your home must be debt free - FALSE! Many people getting a reverse mortgage have a traditional mortgage or other debt instrument on your home. The mortgage or debt however, must be paid off first with the proceeds of the reverse mortgage. After this is paid, the proceeds of the reverse mortgage are distributed to you either a lump sum, by regular monthly payments, or though a Line of Credit. 7. With a Reverse Mortgage, Only the "cash poor" or desperate senior citizens can benefit - FALSE! Everybody has varying levels of cash needs from time to time. An unexpected medical bill or other family catastrophe can be handled gracefully by many with a Richmond reverse mortgage. Others like the idea of using the equity in their home for retirement income while still living there. Many folks just like the feeling of financial security they get by having funds readily available. While each of these situations is different, they can all be handled through a reverse mortgage. A Reverse Mortgage can also be an excellent financial or estate planning tool! While Reverse Mortgages are not for all seniors, they are certainly worth investigating, especially before you need them. When searching for information on Reverse Mortgages in Richmond VA, please remember the Law of the Barbershop - "Don't ask the barber if you need a haircut or you are sure to be clipped!" Article Source: http://EzineArticles.com/625569 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (804) 210-7373 (855) 571-8800 Toll Free Reverse Mortgage Richmond VA - http://sls-mortgage.com/reverse-mortgage

Reverse Mortgage Herndon VA | (703) 594-9229 | SLS Mortgage

Reverse Mortgage Herndon VA | (703) 594-9229 | SLS Mortgage Reverse Mortgage Herndon VA - http://sls-mortgage.com/reverse-mortgage - (703) 594-9229 - SLS Mortgage While Reverse Mortgages may not be for everyone, they can be an excellent choice for many. Are they the right choice for you? Let's explore them in more detail. What is a Reverse Mortgage? * A Reverse Mortgage is a special, Government sponsored program designed specifically for homeowners over the age of 62. Unlike a traditional mortgage, there are no monthly payments to make. There are also no credit, asset or means requirements to qualify for the mortgage. This can be an important factor for seniors with less than sterling credit or for those living on reduced retirement incomes. * Various programs are available with different rates and benefits. There are fixed and variable rate programs, each having different features. While most are still Government Programs, proprietary programs with individual banks have also been available from time to time. While you should always use the broker or bank that you feel most comfortable with, be sure they can offer you the most competitive programs. * Under a traditional mortgage the monthly payments pay for the interest, and usually pay off principal on the loan, thereby reducing the amount of the mortgage. With the Herndon Reverse Mortgage the amount of cash you receive, together with the interest and other charges, are added to and increase the loan balance. This balance however, never has to be re-paid until you move out of your home. You do have to keep your taxes and insurance current and maintain the home, just as you already do. * A Reverse Mortgage is a non-recourse loan. This means that no assets other than your home can be attached to pay off the mortgage. If, when the mortgage comes due, the mortgage amount is greater than the value of the home, the homeowner or estate will only be responsible for fair value of the home unless the home is taken over by a family member, in which case the entire mortgage amount may be due. In other words, a sale must be at "arms-length" or the full loan value may be due. Should the value of the mortgage be less than that of your home, either you or your estate receive the remaining equity in the home when you leave or pass away. Taken together, these features offer what could be considered a "Win-Win" situation. Your mortgage balance becomes due when you sell the home, when you vacate it for more than 12 months, or when the last surviving borrower passes away. On sale, it is satisfied at closing, as would be any other mortgage. Your heirs will have the options of paying off the amount due and keeping the home, or of simply selling the home and receiving any remaining equity. Who can benefit from a Reverse Mortgage? Seniors I have found most likely to benefit from the Reverse Mortgage would be homeowners who: * May be struggling with the payments of a conventional mortgage or equity line of credit. * Require or would like additional cash for rising expenses. * Would like to access the equity in their home for needed repairs, a new car, medical or other specific needs. * Homeowners seeking to age at home and who are not planning to move from the home in the foreseeable future. * Seniors who would rather share with children or grandchildren while still around to see them enjoy it, rather than leave the home's equity in an estate. * Senior homeowners who are facing foreclosure because of their inability to pay their current mortgages may find the Reverse Mortgage an excellent, if not the only option allowing them to remain in the home. * Seniors who simply "want to' have more fun! Who Qualifies for a Reverse Mortgage? Qualification for a Reverse Mortgage in Herndon VA is pretty simple. * The age of the homeowner/s must be age 62 or greater. * The home must be and remain being, the primary residence. You have to live there. * The home must be in good repair. The home will be appraised during the loan approval process. * There can be no other liens on the home. (Current liens or mortgages can and must be satisfied from the proceeds of the Reverse Mortgage.) Reverse Mortgages are rapidly gaining popularity as the preferred choice for many senior homeowners. By having a better understanding as to how they work, now you - together with your most trusted personal advisors, can determine if a Herndon Reverse Mortgage is the right choice for you. http://www.youtube.com/watch?v=hM5ty_u6_3Q Article Source: http://EzineArticles.com/2755619 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Reverse Mortgage Herndon VA - http://sls-mortgage.com/reverse-mortgage

Reverse Mortgage Arlington VA | (703) 594-9229 | SLS Mortgage

Reverse Mortgage Arlington VA | (703) 594-9229 | SLS Mortgage Reverse Mortgage Arlington VA - http://sls-mortgage.com/reverse-mortgage - (703) 594-9229 - SLS Mortgage Reverse mortgages have become a very popular option for senior citizens. They are so common because it gives the homeowner the freedom to use the proceeds of the loan for whatever they choose. Because the homeowner has total control on how to use the proceeds of the loan, there are many different ways in which reverse home mortgages are being used. We have included in this article some of the most common ways in which people are using reverse mortgages. Of course, there are many more ways in which you can use the money from a reverse mortgage. Reverse Home Mortgages and Long Term Care Many senior citizens are finding themselves in a position where they have to discover diverse ways to finance their long-run care due to the raising fees in health care. Many seniors have chosen a reverse home mortgage as a manner to fund their healthcare fees. They spend the revenue to pay for the current monthly fees or a long term care premium. The proceeds they receive from the reverse home loan allows some senior citizens to guarantee the type of health care they deserve for as long as they needed. This is so because the FHA insurance makes sure that homeowners keep getting monthly payments for as long as they live in the house. The money you get from an Arlington reverse mortgage is tax exempt. Also, depending on your financial situation, your social security and Medicare benefits are usually not affected by the money you receive from the seniors reverse mortgage. To make sure, it is a good idea to talk to your CPA, ask your reverse mortgage broker or ask the counselor you are entitled to when applying for a reverse mortgage. People use a reverse mortgage to pay for health care in one of several ways: - To pay for unexpected or emergency medical expenses - To pay for the monthly medical bills - To afford the long term care insurance premium Reverse Home Mortgage and Stopping Foreclosure Home foreclosures are at a record high because of the current economical conditions. Foreclosures have had a direct impact in the whole society affecting all types of homeowners. Many seniors have turned to Arlington reverse mortgages as a way to protect themselves from the chance of losing their homes. By using a reverse home loan, a senior citizen facing foreclosure on his home can turn the tables around. Instead of having to make monthly payments, the homeowner can receive monthly "income" from the bank. When you get the mortgage, the foreclosure mortgage can be paid off and the home taken off of the foreclosure procedure. Finally, a seniors reverse mortgage can work as shield for you. As long as you live in your home, you can never be thrown out of the house. Your only responsibility is to keep the real estate and insurance payments up to date. The main drawback to a reverse home mortgage is its high fees. Nevertheless, if you compare these fees to the possibility of losing your home, it can be well worthwhile. Even though you can stop foreclosure by applying for a reverse mortgage, it's advised that you talk to a professional reverse mortgage broker before choosing this alternative. A good broker specializing on reverse home mortgages should be able to tell you if this is a viable solution for you. http://www.youtube.com/watch?v=1-EvLn0mpbQ Reverse Mortgage as a Way to Fund Your Retirement Some seniors are finding it hard to maintain a lifestyle they have grown accustomed; especially with the increasing life expectancy. Some are turning to reverse home mortgages to help them fund their retirement years. With a reverse mortgage, you can choose to receive monthly payments from a bank. In many cases, this funds work as a second income. Reverse mortgages in Arlington VA work by making use of the equity in your home. You can choose to use the equity in the house by receiving a lump sum or monthly payments. Contrary to a traditional home loan, in a reverse mortgage, the bank pays you. Of course, as you receive payments, the equity in your home decreases. For people using a reverse mortgage, the funds they receive can be used as a second income. There is no limit on the different ways you can se the money. Also, by getting a reverse mortgage you avoid having to spend your cash in making monthly payments which in turn increase your cash flow. You can save the money you avoid paying to the bank and use it as an insurance policy. Article Source: http://EzineArticles.com/1208208 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Reverse Mortgage Arlington VA - http://sls-mortgage.com/reverse-mortgage

Reverse Mortgage Ashburn VA | (703) 594-9229 | SLS Mortgage

Reverse Mortgage Ashburn VA | (703) 594-9229 | SLS Mortgage Reverse Mortgage Ashburn VA - (703) 594-9229 - http://sls-mortgage.com/reverse-mortgage - SLS Mortgage With the growing popularity of Reverse Mortgages across the country, more and more seniors are asking themselves, "Do I need a Reverse Mortgage?" This question can be answered by using several different means. This article will discuss several of the most common questions in discovering the usefulness of the Reverse Mortgage for different individual situations as well as some suggestions to beginning the process. 1) "I don't have a mortgage! Why would I get a Reverse Mortgage?" This is one of the most common disputes that arise when discussing Reverse Mortgages in Ashburn VA. A financial goal for many seniors is the removal of all mortgage debt to the home, but this methodology is becoming outdated with the creativity of home equity programs that have recently come about, including the Reverse Mortgage. One of the fears of taking out a loan on a mortgage-free home is the threat of default and foreclosure. The Reverse Mortgage is one product that removes this threat. There are never any payments required for a Reverse Mortgage as long as you live in the home. It allows you to utilize the equity available in the home without the threat of losing the home, and without the added burden of monthly payments. 2) "I don't need anything." A Reverse Mortgage is commonly used to remove a current monthly mortgage payment, to help a senior out large medical or credit card debt, or to secure an investment or an insurance product. However, the phrase "I don't need anything" is a statement that is frequently used without looking at all the safeties and possibilities of having an Ashburn Reverse Mortgage. A Reverse Mortgage can work as an extremely effective "safety net." It can establish a large, extremely liquid, and high interest earning account that can be counted on in the event of an emergency or an opportunity. Right now, Reverse Mortgage credit accounts, which function very similar to checking accounts, earn well over 6.7%. This extremely useful when a medical crisis occurs, or a timed financial opportunity presents itself, and the senior will not have to affect any of their savings, investments, or income. http://www.youtube.com/watch?v=943jbjEoTSY 3) "Why would I give my house away?" This is a common misconception that many seniors have when learning about Reverse Mortgages. First, a Reverse Mortgage Lender does not take your home or ownership of the home. There is no transfer of deed or title. The senior retains all rights of ownership they previously enjoyed and the only change is that the Reverse Mortgage becomes a lien on the property. The senior may sell the home and move at any time, and if the borrower should pass away, the home will be passed on to their heirs as designated in the will. 4) "I am on Social Security and Medicare. I don't want to lose those benefits." The largest benefit of the Reverse Mortgage Ashburn VA is its guarantees from the Federal government. The program is regulated and facilitated by the Department of Housing and Urban Development and due to this, all Federal benefits like social security and Medicare are not affected whatsoever by the additional income generated by the Reverse Mortgage. The government classifies the proceeds from Reverse Mortgage as equity, not income. This also has the benefit of being 100% Tax-Free! You will not report any additional income on your tax return and the reserve of thousands of dollars of liquid funds will not alter your tax-bracket. These are some of the more common questions regarding Ashburn Reverse Mortgages that are presented in the early stages of acquiring the loan. Almost every applicant will ask themselves one or all of these at some point. Article Source: http://EzineArticles.com/160949 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Reverse Mortgage Ashburn VA - http://sls-mortgage.com/reverse-mortgage

Reverse Mortgage Charlottesville VA | (434) 260-7773 | SLS Mortgage

Reverse Mortgage Charlottesville VA | (434) 260-7773 | SLS Mortgage Reverse Mortgage Charlottesville VA - (434) 260-7773 - http://sls-mortgage.com/reverse-mortgage - SLS Mortgage One of the most frequent questions that we receive when assisting with Reverse Mortgages in Charlottesville VA is, "If I already have a mortgage, can I still do a Reverse Mortgage?" The consensus seems to be that most people believe the answer to this questions is no. In reality, however, the Reverse Mortgage is a system that allows the borrower to reverse their mortgage payment. Instead of paying from out of their pockets every month, the borrower uses a Reverse Mortgage to end their mortgage payments forever. Now because the Reverse Mortgage is a Federally guaranteed and regulated program, there are some limits that should be talk about with the Reverse Mortgage. One is the fact the Reverse Mortgage is designed to utilize the equity in the home, there are limits to the amount of money that a Reverse Mortgage can produce, and of course, how much mortgage can be paid off. A good way to know if a Reverse Mortgage will perform efficiently for you is first judge whether or not your current mortgage is under 70% of your home's appraised value. This is the maximum lending ceiling for most cases. A Reverse Mortgage Lender will provide the exact figures. http://www.youtube.com/watch?v=HHdhtW6KSpQ Next, the money that you will receive from a Charlottesville Reverse Mortgage MUST go towards paying off your mortgage. Any money that is left over will be available to you with no restrictions, but only after your current mortgage is paid off in full. This should be a goal for Reverse Mortgage applicants who have a large first mortgage or home-equity loan. An obvious benefit of using the Reverse Mortgage to remove the current mortgage is the added income you will receive from removing your monthly mortgage payments. Reverse Mortgages never require you to make a monthly payment for the rest of your life, while you are a resident of the home. The Reverse Mortgage is a product that is useful to remove monthly payments on credit card debts, medicine, and medical bills. The idea behind the Reverse Mortgage originated in Europe, and has been the most popular senior financial vehicle in England, Germany, France, and the Scandinavian nations for the last 35 years. Although the United States has only perfected the safety and administration of the Reverse Mortgage in the last 15 years, its popularity has exploded in the last decade. It is at a point now that we are experiencing a 200% growth from each year to the next in the number of seniors around the country joining the Reverse Mortgage program. With social security and Medicare benefits not providing the amount of income that seniors expected to last them through their retirement, Reverse Mortgage are a tax-free, safe, and minimal out-of-pocket-cost strategy that does not affect any government benefits or income, protects the home from default and foreclosure, and relives the senior of the stress of monthly mortgage payments. Most people who do a Reverse Mortgage are ready to enjoy their retirement, travel, and "Do Stuff!" This is the reason the Reverse Mortgage is now becoming the one of the most popular senior financial vehicles, not in Europe, but in the United States. Article Source: http://EzineArticles.com/113133 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (434) 260-7773 (855) 571-8800 Toll Free Reverse Mortgage Charlottesville VA - http://sls-mortgage.com/reverse-mortgage

Reverse Mortgage Reston VA | (703) 594-9229 | SLS Mortgage

Reverse Mortgage Reston VA | (703) 594-9229 | SLS Mortgage Reverse Mortgage Reston VA - (703) 594-9229 - http://sls-mortgage.com/reverse-mortgage - SLS Mortgage A reverse mortgage is one of many vehicles that individuals 62 years of age or older can use to turn the equity in their home into cash. It is very important, though, for an individual to fully understand reverse mortgages, their ramifications, and the alternatives. This article will provide an overview of reverse mortgages. What is a Reverse Mortgage? With a "normal" home loan you pay a monthly amount (principal and interest). With each month, the amount that you owe goes down and the equity in your home goes up. As one might expect from its name, a reverse mortgage works in an opposite fashion. With a reverse mortgage you can turn the equity in your home into cash. You do not have to make monthly payments. The cash may be paid to you in one or more of the following ways: *** As a single lump sum payment *** As a regular monthly amount (a cash advance) *** As a credit line account that you draw upon as needed With a reverse mortgage in Reston VA, the homeowner continues to own their home and receives cash in whatever way is preferable to them. As they receive cash, their loan amount goes up, and the equity in their home declines. A reverse mortgage cannot grow to more than the amount of the equity of the house. In addition, a lender cannot seek payment of the loan from anything other than the value of the house. Your other assets and the assets of your heirs are protected by what is called a "non-recourse limit." A reverse mortgage, plus accrued interest, does eventually have to get paid back. Repayment of a reverse mortgage happens when the last owner of the property named on the loan either dies, sells the home, or permanently moves out of the home. Before then, nothing needs to be paid on the loan. http://www.youtube.com/watch?v=KdLYk9jx2Do There are other circumstances in which reverse mortgage lenders can also require repayment of a loan prior to the above conditions. These include: *** The borrower fails to pay their property taxes *** The borrower fails to maintain and repair their home *** The borrower fails to keep their home insured There are also other default conditions that can cause repayment of the loan. Most of these are similar to default conditions for traditional mortgages (for example, declaration of bankruptcy, donation or abandonment of the home, perpetration of fraud or misrepresentation, and more). A Reston reverse mortgage should not be confused with a home equity loan or home equity line, both of which are other means of obtaining money for the equity in your home. With either of these loan vehicles, an individual must pay at least monthly interest on the loan amount received, or amount that they have drawn on their equity line. Reverse Mortgage Eligibility All owners of a home must apply for the reverse mortgage and sign the appropriate loan papers. To qualify for a reverse mortgage the borrower(s) must: *** Own their own home *** Be at least 62 years of age or older *** A reverse mortgage is most typically a "first" mortgage, meaning that there cannot be any other mortgages or loans against the property, such as an equity line. An individual typically owns their home "free and clear" prior to seeking a reverse mortgage. Reverse Mortgage Loan Amounts The amount of money that an individual may receive from a reverse mortgage is a function of many different factors, including: *** The specific reverse mortgage Reston VA program that the individual selects *** The type of cash advances received (e.g., lump sum vs. monthly payment) *** The individual's age (the older an individual is, the more cash they get) *** The value of the individual's home (the more valuable the home, the more cash they get) Article Source: http://EzineArticles.com/177721 To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Reverse Mortgage Reston VA - http://sls-mortgage.com/reverse-mortgage

Home Mortgage Arlington VA | (703) 594-9229 | SLS Mortgage

Home Mortgage Arlington VA | (703) 594-9229 | SLS Mortgage Home Mortgage Arlington VA - http://sls-mortgage.com - (703) 594-9229 - SLS Mortgage Below is an explanation of why using a mortgage broker is best when shopping for a home mortgage in Arlington VA. To begin the process of attaining your home mortgage loan, contact one of our home loan specialists at SLS Mortgage. We anticipate helping you obtain your dream house. SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Buying a home is an exciting time, and is most likely the largest and most important investment you will make in your lifetime. There are many factors that go into buying a home, including securing a mortgage. Many home buyers will probably automatically look to their banks or financial institutions to obtain a mortgage on the home they wish to purchase. What many of these people may not realize is that the banks will probably only offer them one rate, with specific conditions and terms for their home loan. It would be beneficial for these home buyers to work with an independent mortgage broker who will almost guarantee a lower rate that what the bank will quote them. Why Use a Mortgage Broker For Your Home Mortgage Loan Needs? Mortgage brokers are trained experts in the field of home mortgages, equity loans, and other financial products. They get to know their clients' financial situation, and attempt to find them a mortgage that suits their specific and individual needs. Independent mortgage brokers are not employees of major lending institutions, so they are not limited in the rates and products that they can offer their clients. Independent mortgage professionals know many lenders across Canada that they have a relationship with, and that they deal with on a regular basis. You only need to fill out one application, then your mortgage agent shops it to all the lenders, in order to maximize the chances of obtaining financing for the mortgage. For this reason, they are often able to secure a mortgage package for hard to place mortgages that the banks turn down. The benefit is that you only have to fill out one application and have one credit report pulled, and they can then shop it to all their lenders. Many of the lending products they can access are not available to retail clients. Get a Home Mortgage Loan at Lower Rates With a Mortgage Broker Getting a home mortgage using an independent mortgage broker is a process that will save you money, because more often than not, mortgage brokers are able to secure mortgages at a much lower rate than what traditional banks may be able to offer. This is because the brokers communicate with a variety of lenders at once, comparing which lender will offer them the best and lowest rate. A lower rate on your home mortgage will most definitely translate into lower monthly mortgage payments, and more money going towards principal rather than interest. Because of this monthly saving, the home owner is then able to pay their house off faster, or put more equity in the home that they can use later on if they ever need to finance something that requires a lot of money to do so. For example, if there is a major home renovation that needs to be financed, you can use the equity in your home to pay for it, by arranging for a home equity loan or line of credit. Save Time Shopping For the Best Home Mortgage Loan - Get a Mortgage Broker to Shop Around For You! Smart consumers take the time to shop around and compare prices on a specific product before buying it to be sure they are paying the best price for that particular product. This is very much the same when it comes to home loans. This is essentially what mortgage brokers do. They will shop around at various lenders and banks to find the lowest rate and best terms and conditions for your mortgage. Having the mortgage broker shop around for you saves you a lot of time from having to do it yourself. If the banks have turned you down due to poor credit, being self employed, new to Canada, or other reasons, an accredited mortgage professional can usually find you a lender. Mortgage Brokers Working on Your Behalf - At No Cost To You! Most mortgage brokers are paid by the lenders, which means they do not look to you for any service fees or charges. You get the best of both of worlds - a mortgage broker who will act in your best interests and get you the best rate and terms, all at no charge to you! Article Source: http://EzineArticles.com/7062643 Want to know more about the mortgage loan products offered by SLS Mortgage? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans Home Mortgage Arlington VA - http://sls-mortgage.com

Home Mortgage Reston VA | (703) 594-9229 | SLS Mortgage

Home Mortgage Reston VA | (703) 594-9229 | SLS Mortgage Home Mortgage Reston VA - http://sls-mortgage.com - (703) 594-9229 - SLS Mortgage Below are some great tips you should adhere to when searching for a home mortgage in Reston VA. To begin the process of attaining your home mortgage loan, contact one of our home loan specialists at SLS Mortgage. We anticipate helping you obtain your dream house. SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Tip #1: Always Shop For Home Mortgage Rates Don't blindly accept a Realtor or Builder referral to apply for a Home Mortgage through their preferred lender. Many times they will say, "We work closely with this guy and he gets the job done". Translation: "We play golf together and he buys the beer". Remember, the Realtor won't be paying the bill each month for the next 30 years, you will. If you apply for a Home Mortgage through a preferred lender without shopping, you will pay hundreds or even thousands of dollars in additional costs. Tip #2: Call For Home Mortgage Quotes After 11:00 a.m. Eastern Time Mortgage Rates change each day and sometimes midday. The previous day's rates typically expire by 8:30 a.m. the next morning. Generally, Home Mortgage Rates are published each day by 11:00 a.m. Eastern time. This varies from lender to lender. To make sure you are getting Home Mortgage Rates from the current day and not a mixture of rates from the previous day from some lenders and the current rates from other lenders, always do your rate shopping after 11:00 a.m. Eastern time. Get all your quotes after 11:00 a.m. Eastern time. Sometimes Home Mortgage Rates change midday due to a volatile bond market. When this happens, some Home Mortgage Lenders will adjust the Discount Points for their rates in accordance with the new bond prices and publish new Home Mortgage Rates for that day. Other Lenders may continue to honor their morning rates. Tip#3: Always Tell The Mortgage Loan Officer You Are Prepared To Apply For A Loan NOW How will you compare quotes if you don't know which quotes are real and which are part of a bait and switch plan? The only way to ensure getting real quotes is to box in the Home Mortgage Loan Officers by making them think you are ready to Lock-In a Home Mortgage Rate immediately. Tip#4: Ask For The Total Points And The Total Fees When you call a Mortgage Lender, ask for the "Total Points" (Discount Points, Loan Origination Fee, Broker Points) for each Home Mortgage Rate. Some lenders will only quote the Discount Points and deliberately leave out the Loan Origination Fee. You won't find out about the 1.00 Point Loan Origination Fee until you apply for the Home Mortgage. By that time, the Loan Officer figures you will just accept it because he's got your application and pulled your credit report. In addition, Mortgage Brokers often neglect to mention their Broker Fee. Some lenders do not charge a Loan Origination Fee. When you are quoted the Total Points, specifically ask them if there is an additional Loan Origination Fee or Broker Fee being charged. You truly have to nail this down when you talk to a Home Mortgage Loan Officer. Tip#5: Always Confirm The Rate Lock Period When Asking For A Rate Quote If you are buying a home and you need 60 days to close, make sure you specifically request Mortgage Rate quotes with a 60 Day Lock period. Some Home Mortgage Loan Officers will quote rates with 15 Day or 30 Day Lock periods because the Discount Points for shorter lock periods are less than rate locks for longer periods. Quoting a Home Mortgage Rate with a 15 Day lock period obviously gives that Loan Officer an unfair edge. It is also a waste of your time because the quote isn't real if you can't settle on your loan within 15 days. Always specify a 60 Day Lock-In if you are buying a home. Ask for 45 Days if you are refinancing, but you may be able to get it done within 30 days if you are very diligent and call your Home Mortgage Loan Officer twice a week for a status of your application. Article Source: http://EzineArticles.com/4271545 Want to know more about the mortgage loan products offered by SLS Mortgage? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans Home Mortgage Reston VA - http://sls-mortgage.com - (703) 594-9229

VA Mortgage Fredericksburg VA | (540) 216-0665 | SLS Mortgage

VA Mortgage Fredericksburg VA | (540) 216-0665 | SLS Mortgage VA Mortgage Fredericksburg - http://sls-mortgage.com (540) 216-0665 VA Mortgages are also sometimes referred to as VA guaranteed loans, since they are guaranteed by the Department of Veterans Affairs. This means that if a borrower defaults on their loan, the Department of Veterans Affairs will repay the lender a portion of the delinquent balance. Advantages of VA Loans: Veterans who are considering buying a home should first consider obtaining a VA mortgage loan instead of a traditional mortgage loan. There are a number of different advantages of these types of loans compared to traditional loans. How to Get a VA Home Loan: Getting a VA mortgage loan is very similar to getting any other type of mortgage loan. First, however, potential borrowers should make sure that they are eligible to take advantage of this loan program, and request a certificate of eligibility. If you would like more information on VA mortgage loans, don't hesitate to contact our mortgage professionals. We're happy to help you determine your eligibility and walk you through the process. To see more about the variety of loan programs we offer, visit our YouTube channel: http://www.youtube.com/user/CulpeperHomeLoans SLS Mortgage (540) 216-0665 (855) 571-8800 Toll Free VA Mortgage Fredericksburg - http://sls-mortgage.com

Mortgage Refinance Reston VA | (703) 594-9229 | SLS Mortgage

Mortgage Refinance Reston VA | (703) 594-9229 | SLS Mortgage Mortgage Refinance Reston VA - http://sls-mortgage.com/mortgage-refinance - (703) 594-9229 - SLS Mortgage If you are in the process of mortgage refinancing, you might feel overwhelmed by all of the mortgage loan options available to you. There are different types of mortgage refinancing loans for every situation; however, choosing the wrong type of loan when mortgage refinancing could be a costly mistake. Here are several tips to help you choose the right mortgage for your individual situation. Which Type of Lender Should You Choose When Mortgage Refinancing? There are many options available when choosing a lender for mortgage refinancing. Banks, mortgage brokers, online portals, and local mortgage companies all offer mortgage refinancing loans. Choosing the wrong type of mortgage lender is a costly mortgage mistake you need to avoid. Banks and broker-banks should be avoided when mortgage refinancing. Banks are exempt from disclosure laws in the United States that protect borrowers from predatory lending practices. If you take out a mortgage from your bank they could overcharge for the loan and you'd never know. Mortgage companies and brokers are retail outlets for mortgage loans and can help you find competitive offers for your new loan. There are still risks when dealing with a broker or your local mortgage company. These companies regularly mark up the interest rates they receive from wholesale lenders to receive an additional bonus from that lender. If you learn how to recognize retail markup on your interest rate, you can avoid paying it. What Type of Loan Should You Choose When Mortgage Refinancing? There are a number of loan options when mortgage refinancing. You have the choice of taking out a loan with a fixed interest rate, an adjustable interest rate, or a hybrid loan with both types of interest rates. When interest rates are rising, mortgage refinancing with a fixed interest rate loan has the advantage of a predictable payment amount you can plan your budget around. Fixed interest rate mortgage refinancing typically comes with higher rates than a comparable loan with an adjustable interest rate, at least initially. Adjustable Rate Mortgages save money in the beginning because these mortgages come with an introductory interest rate that is significantly lower than the actual rate. Once the introductory period expires the lender will adjust the monthly payment amount to include the actual interest rate. When this adjustment occurs the payment amount will go up significantly. Cash-out Mortgage Refinancing When refinancing your mortgage you have the option of taking cash back from the equity you own in your home. Cash-out mortgage refinancing has a number of advantages over home equity loan options. The main advantage over other home equity loan types is that you will only have one monthly payment to make. Because you will only be carrying one mortgage on your home you will also qualify for a lower interest rate. Article Source: http://EzineArticles.com/?expert=Louie_Latour Article Source: http://EzineArticles.com/350541 Contact SLS Mortgage to help you determine if a mortgage refinance in Reston VA is right for you. Want to know more about SLS Mortgage and our loan programs? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Mortgage Refinance Reston VA - http://sls-mortgage.com/mortgage-refinance

Mortgage Refinance Vienna VA | (703) 594-9229 | SLS Mortgage

Mortgage Refinance Vienna VA | (703) 594-9229 | SLS Mortgage Mortgage Refinance Vienna VA - http://sls-mortgage.com/mortgage-refinance - (703) 594-9229 - SLS Mortgage If you're paying too much for your mortgage every month, a mortgage refinance could be a great option. Keep in mind though, that refinancing a mortgage is not for everyone. While it can make financial sense for some borrowers, it could also be a big mistake for others. Determining if a mortgage refinance is right for you is largely determined by your individual situation. There can be a number of advantages to refinancing a mortgage, such as lower monthly payments and lower interest rates, but a loan refinance isn't for everyone. There are a few factors to consider before considering a mortgage refinance. You should also consider both the short-term and long-term ramifications of mortgage refinancing. For instance, make sure that you're able to make the new monthly payments and that you're comfortable with the final price you'll end up paying for your home. Contact SLS Mortgage to help you determine if a mortgage refinance in Vienna VA is right for you. Want to know more about SLS Mortgage and our loan programs? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Mortgage Refinance Vienna VA - http://sls-mortgage.com/mortgage-refinance

Home Mortgage Dunn Loring | (703) 594-9229 | SLS Mortgage

Home Mortgage Dunn Loring | (703) 594-9229 | SLS Mortgage Home Mortgage Dunn Loring - http://sls-mortgage.com - (703) 594-9229 - SLS Mortgage No matter which way you consider it, houses are among life's greatest costs. Buying a residence generally calls for hundreds of thousands of bucks. Average home buyers aren't generally able to simply pay cash or write a check, even for reasonably priced homes. A home loan, nevertheless, makes buying a house possible. Exactly what is a Home Mortgage? A home loan is also known as a mortgage loan. These kinds of loans make it possible for prospective house buyers to acquire sufficient cash to purchase a residence. Of course, like everything else in life, this isn't free, and it has to be repaid. Typically, a home mortgage is repaid over an extended time period. House buyers must make regular monthly payments over a duration of 15 to 30 years. The amount of these month-to-month payments is generally influenced by such things as the size of the mortgage loan and the interest rate. What Happens During the Mortgage Procedure? Attempting to obtain a first time mortgage loan can seem frightening and intimidating to lots of first time home customers. Having a good understanding about just how the home mortgage process works, nonetheless, can eliminate a few of these fears. To get a home loan, you must first approach a lender, such as a mortgage broker or bank. You and your loan provider will then determine just what you're looking for and exactly how much you can manage. At this point, your loan provider might pre-qualify you for a home loan, if your credit is good enough. When you locate a residence and make an offer, you will then fill in an official mortgage loan application. This application is then created with any supporting papers - like your earnings details - into a loan application packet, which is reviewed by an underwriter. Throughout the underwriting procedure, an underwriter will examine your credit history and credit score. The underwriter will then identify whether you are eligible for a mortgage loan, how much you can borrow, how much your interest rate will be, and how much your regular monthly payments should be. To get begin the process of attaining your home mortgage loan, contact one of our home loan specialists at SLS Mortgage loan. We anticipate helping you obtain your dream house. Want to know more about the mortgage loan products offered by SLS Mortgage? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Home Mortgage Dunn Loring - http://sls-mortgage.com

Reverse Mortgage Vienna VA | (703) 594-9229 | SLS Mortgage

Reverse Mortgage Vienna VA | (703) 594-9229 | SLS Mortgage Reverse Mortgage Vienna VA - http://sls-mortgage.com/reverse-mortgage - (703) 594-9229 - SLS Mortgage Money is tight for virtually every household in this country. Many older Americans, especially those living on fixed incomes, might be feeling the squeeze more than most. What seniors may not realize, though, is that a reverse home mortgage can help ease the pain. What is a Reverse Mortgage? A reverse home mortgage is a home loan that enables older individuals to turn the equity of their homes into much needed cash. These types of mortgages are referred to as "reverse mortgages" because the process is somewhat backward from a traditional mortgage. With a reverse mortgage, a lender gives the borrower money instead of taking payments. As long as the borrower lives in the home, he is not required to make monthly payments. The money obtained from a reverse home mortgage can typically be used for anything the borrower wants or needs, unless the lender specifies otherwise. For instance, the money can go to help pay for healthcare expenses, a grandchild's education, a home remodel, or even a vacation. To learn more about reverse mortgages and our other loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To get any questions answered concerning reverse mortgages, call our loan professionals at SLS Mortgage for a free consultation: SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Reverse Mortgage Vienna VA - http://sls-mortgage.com/reverse-mortgage

Home Mortgage Vienna VA

Home Mortgage Vienna VA Home Mortgage Vienna VA - http://sls-mortgage.com - (703) 594-9229 - SLS Mortgage Homes are one of life's greatest expenditures. Buying a residence normally requires hundreds of thousands of dollars. Typical home buyers aren't usually able to just lay down cash or write a check, even for reasonably priced houses. A home loan, however, makes buying a residence feasible. Just what is a Home Mortgage? A home loan is also known as a mortgage. These types of loans allow potential home buyers to procure adequate money to acquire a house. Normally, a home mortgage is repaid over a prolonged period of time. Home buyers should make month-to-month payments over a duration of 15 to 30 years. The quantity of these regular monthly payments is usually influenced by such things as the amount of the mortgage loan and the interest rate. Exactly What Occurs During the Home Loan Process? Trying to get a first time mortgage loan can appear frightening to many first time home purchasers. Having a good understanding about just how the mortgage process works, nevertheless, can calm a few of these concerns. To get a home loan, you should first approach a lender, such as a mortgage broker or bank. You and your creditor will then determine just what you're looking for and exactly how much you can afford. At this point, your mortgage broker could pre-qualify you for a home mortgage loan, if your credit is good enough. When you find a house and make an offer, you will then fill out an official home mortgage loan application. This application is then submitted with any type of supporting papers - like your earnings statements - into a loan application packet, which is examined by an underwriter. During the underwriting procedure, an underwriter will look over your application, and explore your credit history and credit score. The underwriter will certainly then determine whether you are eligible for a mortgage loan, exactly how much you can borrow, how much your rate of interest will be, and how much your regular monthly payments should be. Want to know more about the mortgage products available today? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans To begin obtaining your home mortgage loan, contact one of our home loan experts at: SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Home Mortgage Vienna VA - http://sls-mortgage.com

Home Loan Dunn Loring | (703) 594-9229 | SLS Mortgage

Home Loan Dunn Loring | (703) 594-9229 | SLS Mortgage Home Loan Dunn Loring - http://sls-mortgage.com - (703) 594-9229 - SLS Mortgage No matter which way you look at it, homes are one of life's biggest expenses. Buying a home typically requires hundreds of thousands of dollars. Average home buyers are usually unable to simply plunk down cash or write a check, even for modestly priced homes. A home loan, however, makes buying a home possible. What is a Home Mortgage? A home loan is also known as a mortgage. These types of loans enable prospective home buyers to procure enough cash to purchase a home. Of course, like everything else in life, this is not free money, and it must be paid back. Typically, a home mortgage is paid back over an extended period of time. Home buyers must make monthly payments over a period of 15 to 30 years. The amount of these monthly payments is usually influenced by such things as the amount of the mortgage loan and the interest rate. What Happens During the Home Loan Process? Trying to get a first time mortgage loan can seem scary and intimidating to many first time home buyers. Having a good understanding about how the home mortgage process works, however, can help squelch some of these fears. To get a home loan, you must first approach a lender, such as a mortgage broker or bank. You and your lender will then sit down to determine what you're looking for and how much you can afford. At this point, your lender may pre-qualify you for a mortgage, if your credit is good enough. Once you find a home and make an offer, you will then fill out an official home mortgage loan application. This application is then put together with any supporting documents - like your income information - into a loan application packet, which is reviewed by an underwriter. During the underwriting process, an underwriter will look over your application, and investigate your credit history and credit score. The underwriter will then determine whether you are eligible for a mortgage loan, how much you can borrow, how much your interest rate will be, and how much your monthly payments should be. To get started on acquiring your home mortgage loan, contact one of our mortgage professionals st SLS Mortgage. We look forward to helping you obtain your dream home. Want to know more about the mortgage loan products offered by SLS Mortgage? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Home Loan Dunn Loring - http://sls-mortgage.com

Mortgage Refinance Dunn Loring | (703) 594-9229 | SLS Mortgage

Mortgage Refinance Dunn Loring | (703) 594-9229 | SLS Mortgage Home Loan Dunn Loring - http://sls-mortgage.com - (703) 594-9229 - SLS Mortgage If you're paying too much for your mortgage every month, a mortgage refinance could be a great option. Keep in mind though, that refinancing a mortgage is not for everyone. While it can make financial sense for some borrowers, it could also be a big mistake for others. Determining if a mortgage refinance is right for you is largely determined by your individual situation. There can be a number of advantages to refinancing a mortgage, such as lower monthly payments and lower interest rates, but a loan refinance isn't for everyone. There are a few factors to consider before considering a mortgage refinance. You should also consider both the short-term and long-term ramifications of mortgage refinancing. For instance, make sure that you're able to make the new monthly payments and that you're comfortable with the final price you'll end up paying for your home. Contact SLS Mortgage to help you determine if a mortgage refinance in Dunn Loring VA is right for you. Want to know more about SLS Mortgage and our loan programs? Visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans SLS Mortgage (703) 594-9229 (855) 571-8800 Toll Free Mortgage Refinance Dunn Loring - http://sls-mortgage.com

HARP Program Refinance McLean VA

HARP Program Refinance McLean VA

VA Mortgage McLean VA | (703) 594-9229 | SLS Mortgage McLean

VA Mortgage McLean VA | (703) 594-9229 | SLS Mortgage McLean VA Mortgage McLean VA - http://slsmortgagemclean.com (703) 594-9229 VA Mortgages are also sometimes referred to as VA guaranteed loans, since they are guaranteed by the Department of Veterans Affairs. This means that if a borrower defaults on their loan, the Department of Veterans Affairs will repay the lender a portion of the delinquent balance. Advantages of VA Loans: Veterans who are considering buying a home should first consider obtaining a VA mortgage loan instead of a traditional mortgage loan. There are a number of different advantages of these types of loans compared to traditional loans. How to Get a VA Home Loan: Getting a VA loan is very similar to getting any other type of mortgage loan. First, however, potential borrowers should make sure that they are eligible to take advantage of this loan program, and request a certificate of eligibility. If you would like more information on VA mortgage loans, don't hesitate to contact our mortgage professionals. We're happy to help you determine your eligibility and walk you through the process. To see more about the variety of loan programs we offer, visit our YouTube channel: http://www.youtube.com/user/CulpeperHomeLoans SLS Mortgage McLean (703) 594-9229 VA Mortgage McLean VA - http://slsmortgagemclean.com

Reverse Mortgage McLean VA | (703) 594-9229 | SLS Mortgage McLean

Reverse Mortgage McLean VA | (703) 594-9229 | SLS Mortgage McLean Reverse Mortgage McLean VA - http://slsmortgagemclean.com (703) 594-9229 Money can be a hard thing to come by these days, particularly for older individuals with nothing more to rely on than Social Security and retirement benefits. However, many seniors may not realize that they're actually sitting on a huge goldmine: their homes. A reverse mortgage is an excellent options for older individuals that need cash for any number of reasons. These types of loans can be used to pay off debt, take care of medical bills, finish a remodeling project, take a vacation, or even supplement an income - all without those pesky loan repayments! Understanding Reverse Mortgages: Although they may seem somewhat complicated, a reverse mortgage actually operates on a very simple idea. They are basically mortgage loans that enable home owners to convert a good chunk of their equity into cash. Reverse mortgages are so named, because instead of the borrower giving money back to the lender, the lender fives money to the borrower. The borrowers are also not required to make monthly mortgage repayments with these types of loans, as long as they live in the home. Money received from a reverse mortgage is non-taxable, and it should not affect any Social Security or retirement benefits. To learn more about a reverse mortgage in McLean VA and other mortgage loan programs, visit our YouTube channel: http://www.youtube.com/user/culpeperhomeloans SLS Mortgage McLean (703) 594-9229 Reverse Mortgage McLean VA - http://slsmortgagemclean.com

Mortgage Refinance McLean VA | (703) 594-9229 | SLS Mortgage McLean

Mortgage Refinance McLean VA | (703) 594-9229 | SLS Mortgage McLean Mortgage Refinance McLean VA - http://slsmortgagemclean.com (703) 594-9229 If you're unhappy with your existing mortgage as it is, a mortgage refinance could be your solution. Before refinancing a mortgage, however, be aware that this can either be a smart money move, or it can be a financial disaster. There are a number of reasons why people refinance their mortgages. One of the biggest advantages of mortgage refinancing, for instance, is getting lower monthly mortgage payments. This can be achieved a few different ways. First of all, some borrowers may find that by refinancing their mortgages, they are able to secure lower interest rates, particularly if their credit has improved since they got their original mortgage. Borrowers might also consider a mortgage refinance to switch from a variable interest rate to a fixed interest rate or vice versa. Lengthening the term of the new loan, which can also be achieved by refinancing mortgage, can also help lower your monthly mortgage payments. For example, some borrowers may find that when they refinance their mortgage to a 30 year term, they can save hundreds of dollars each month. Of course, in the long run they will also usually pay more in interest. On the other hand, some borrowers may be looking to shorten the term of their mortgage when they consider a mortgage refinance. Although this type of mortgage refinancing option will usually result in higher monthly payments, borrowers will typically end up paying less in interest, since more of their mortgage payments go toward the principal of the loan. Borrowers who have built up equity in their homes might also want to consider a refinance, since it can give them access to large amounts of cash. For example, if a borrower owes $200,000 on their existing mortgage and their home is appraised at $250,000, they have built up $50,000 in equity. By refinancing their home loan for the value of the home, the borrower can pocket the difference, which in this case would be $50,000. The money received can then be used for such things as putting a child through college, paying off credit card debt, or even remodeling the home. Call SLS Mortgage McLean for the best mortgage refinance loans available today. We will provide guidance and help through the mortgage loan process making it your stress free solution for mortgage refinancing loans in McLean VA. To see our other videos about our available mortgage loans, visit our YouTube channel: http://www.youtube.com/user/CulpeperHomeLoans SLS Mortgage McLean (703) 594-9229 Mortgage Refinance McLean VA - http://slsmortgagemclean.com

SLS Mortgage - Introduction

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