Reverse Mortgage Myths & Realities

October 21, 2022
Michael Dorosko
Mortgage News

Michael Dorosko

Step 1 of 21

4%

What are your goals?
- I want to purchase
- I want to refinance

Where are you looking to buy? City or Zip Code
City or Zip Code*

Where is the home located? City or Zip Code
City or Zip Code*

What type of home is it?
- Single Family
- Townhouse
- Condominium
- Multi-Family

Where are you in the home buying process?
- Signed a purchase contract
- Found a home
- Looking to buy within one month
- Looking to buy in 1 to 3 months
- Looking to buy in more than 3 months

How do you plan to use your new home?
- Primary Residence
- Vacation Property
- Investment Property

Have you or your spouse served in the US military?
Veterans and active US military may be eligible for a $0 down VA loan when purchasing a home.
- Yes
- No

What is your (or your spouse's) branch of military service?
- Army
- Marine Corps
- Navy
- Air Force
- Coast Guard
- National Guard
- Military Spouse
- Other VA Eligibility
- No Military Experience

Are you actively working with a real estate agent?
- Yes
- No

Is this your first time purchasing a home?
- Yes
- No

What is the approximate purchase price of the new property?
(it's OK to estimate)
What is the estimated value of your property?
Use the slider to select the price range of homes you're interested in (it's OK to estimate)

How much do you have for a down payment?
(it's OK to estimate)
What is the balance of your first mortgage?
(It's OK to estimate)

What is the interest rate of your first mortgage?
(It's OK to estimate)

Do you have a second mortgage?
- Yes
- No

How much additional cash do you wish to borrow?
(It's OK to estimate or if no cash-out leave at $0)

What is your current employment status?
- Employed
- Self-Employed/1099 Independent Contractor
- Retired

What is your household gross (before taxes) annual income?
- Less than $30,000
- $30,000 - $50,000
- $50,000 - $75,000
- $75,000 - $100,000
- Greater than $100,000

What is your credit score?
- Excellent 740+
- Good 700-739
- Average 660-699
- Fair 600-659
- Poor < 600

Have you had a bankruptcy or foreclosure in the past 3 years?
- Yes
- No

What is your first name?*
What is your last name?*

What is your email address?*
What is your phone number?*

Categories

Closing (2)
Credit (1)
FHA Loan (1)
First Time Home Buyer (20)
Home Improvement (5)
Home Maintenance (7)
Home Owner Tips (25)
Home Trends (8)
Insurance (1)
Learn (27)
Mortgage News (20)
Mortgage Tips (13)
Real Estate Tips (25)
Renovations (2)
Rent Vs Buy (3)
Second Homes (1)
USDA Loan (2)
VA Loans (2)

previous post: Fall Yard Maintenance Tips for the Homeowner
next post: Building Your Credit

What are your goals? Everyone is unique, request your personalized rates and fees.

Get Started

About Us

Working with dozens of lenders allows us to offer highly competitive rates and loan programs with expansive program eligibility requirements (we can qualify more clients!).

Company NMLS: 2442358

Equal Housing Opportunity