DBA of OpenMortgage, LLC. NMLS#2975

TEXAS REVERSE MORTGAGES

SERVING ALL OF TEXAS

512-288-4700

800-676-5619

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and FREE Reverse Mortgage Information.

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by a licensed Reverse Mortgage Professional

The Reverse Mortgage Professionals

The Valdez Group is not here to sell you products. We are here to help you find solutions to your needs.  We understand that any Reverse Mortgage is a big decision and should not be taken lightly.  Our first priority is to educate and to find the right program to fit your needs and one that will benefit you for the future.

A Home Equity Conversion Mortgage (HECM’s), also known as Reverse Mortgages are federally-insured and backed by the U.S. Department of Housing and Urban Development (HUD).  HECM loans can be used for any purpose.

A Reverse Mortgage is a Financial Retirement Tool

Many financial advisors are recommending the Reverse Mortgage program to homeowners age 62 and older as a successful retirement planning tool.  Here are a few ways to structure your pay options.

  • You can choose to take money as a lump sum or receive monthly disbursements that can be used to pay for living expenses. By doing this, your other investments or benefits will have more time to grow in value before accessing them.
  • You can also start a line of credit without withdrawing any money. With the line of credit, the available money increases in value over time giving you more money available to access in the future.  The amount of money available can even exceed the value of your home and is not affected by changing home values.

We think every homeowner should consider getting a home equity conversion mortgage line of credit as soon as they turn 62.  This great financial tool gives peace of mind in safeguarding your financial future.


Call The Reverse Mortgage Professionals Today

800-676-5619

512-288-4700


Our Reverse Mortgage loan programs are set up to meet the needs of homeowners that are 62 and older.  In the state of Texas both spouses must be 62 years or older to qualify for the Reverse Mortgage. A reverse mortgage is a financial tool that helps in leveraging the homeowner’s equity and expanding their retirement. It’s a way for the seasoned homeowner to access the equity they’ve built up in their home and turn it into tax-free income, having no monthly payments at the same time and maintaining it as their primary residence. *

Texas also have a new program call the HECM for Purchase allowing a homeowner 62 or older to purchase a pre-existing home or new principle residence and at the same time typically having no monthly mortgage payments as long as the loan terms are met.

Call for more Information on the HECM for Purchase.


“Endless Possibilities .. .We’re All About Helping Seniors.”

*Must maintain property as primary residence and keep property insurance, taxes and HOA current.

Never Make a Monthly Mortgage Payment

With a Reverse Mortgage, as long as you live in your home, you never have to worry about monthly mortgage payments again, as long as you continue to pay your property taxes, insurance and HOA (if applicable).

“Planning for Your Future”

Use the money received to live on now so other investments can be used later after having more time to grow. Have access to all funds available in your line of credit regardless of changes in your home value.

Maintain Home Ownership and Title

With a Reverse Mortgage, you maintain your home ownership of your home just like any other traditional mortgage. The #1 misconception about Reverse Mortgages is that the Government or Lender will take my home.  WRONG!

Money You Receive Does NOT Affect Medicare or Social Security*

With a Reverse Mortgage, the monthly payments you receive will not affect your Medicare or Social Security.

*Consult your financial advisor

Making The Reverse Mortgage Process Simple

IS OUR NUMBER 1 PRIORITY

CALL US TODAY FOR YOUR FREE INFORMATION PACKET

800-676-5619 or 512-288-4700

OUR TEAM

Joe Valdez

Branch Manager

RMLO/Senior Reverse Mortgage Professional

NMLS# 208569

Chris Valdez

Branch Partner

RMLO/Senior Reverse Mortgage Professional

NMLS#340895

Todd Wright

Loan Officer

RMLO/Reverse Mortgage Professional

NMLS#1376954

Robyn Mosner

Loan Officer

RMLO/Reverse Mortgage Professional

NMLS# 1279973

Larry Olez

Loan Officer

RMLO/Reverse Mortgage Professional

NMLS# 296809

Sandi Miller

Reverse Mortgage Assistant

REVERSE MORTGAGE PROCESS

 

6 Steps to Getting a Reverse Mortgage

Our licensed specialists do everything they can to ensure you have a great experience throughout the entire process of getting your loan.  They are with you every step of the way to answer your questions and ease any concerns.

Here’s how the process will go:

1. Educational Session

During this step, we will review your financial situation and get the appraised value of your home.  During application and review, you will:

  • Receive, review, and complete your application with guidance from your licensed specialist.
  • Undergo a financial assessment to make sure you can uphold the financial obligations of your loan.
  • Have your application documents reviewed and finalized

4. Order Title and Appraisal

Your processor will order title to make sure your title does not have any issues, then your processor will order your appraisal.  At your convenience, the appraiser will inspect your home inside and out. Then the appraiser will determine the value based on comparable sales in your neighborhood over the last 3 – 6 months.

2. Application and Review

Now your loan is ready for processing.  While the loan officer will be your primary point of contact your processor will make it more streamlined to get your loan closed quickly.  Additionally, she will coordinate when it’s convenient for you to have the appraiser come out to do the appraisal.  If you have any questions about the processing of your paperwork, you can always contact your loan officer or processor.

5. Closing Your Loan

In most cases, closing of the loan will occur in the comfort of your own home.  A representative will come to your home at a time that is convenient for you.  The day before the closing, your loan officer will call and go over the final reverse mortgage numbers and make sure you are receiving the amount that you anticipated.

3. Working with your Processor

Now your loan is ready for processing.  While the loan officer will be your primary point of contact your processor will make it more streamlined to get your loan closed quickly.  Additionally, she will coordinate when it’s convenient for you to have the appraiser come out to do the appraisal.  If you have any questions about the processing of your paperwork, you can always contact your loan officer or processor.

6. Funding

After three business days pass from the date of closing, the loan is funded the next day {the 4th day). Your money is wired to your bank account or sent to you as a cashier’s check via FedEx at your preference.  The loan officer will follow up with you the day after to make sure you received your funds.

Reverse Mortgage Programs

Reverse Mortgage

A Reverse Mortgage, is also known as a home equity conversion mortgage.  This loan comes with a few unique features:

  • You can make payments if you choose. No monthly mortgage payments are required, but you remain responsible for property taxes, homeowners insurance, HOA (if applicable) and maintenance of your property.
  • The amount of funds available to you in the line of credit option may increase over time.
  • You have the ability to receive money in a lump sum, monthly disbursements, the line of credit, or any combination.
  • This is a non-recourse loan meaning you or your heirs will NEVER owe more than the property is worth.

Reverse for Purchase (H4P: HECM for Purchase)

A Reverse for Purchase Program is an FHA-Insured loan that allows seniors age 62 or older to buy or build a home investing between 25-50% down into the home (new or pre-existing) depending on your age with no future mortgage payments (the HECM takes care of the rest) as long as the home continues to be the senior’s primary residence.

Obtaining a Reverse Mortgage for Purchase is easier than you might think.  We’ll work with you to make sure you qualify, then determine the loan amount for which you may be approved.

HomeSafe Jumbo Reverse Mortgage

If you’re 62 years or older and you own a home or are looking to purchase a property that’s valued at $1 million or more, you can now access more of your home equity.

  • Loan amounts of up to $2.25 million – significantly higher than a HECM allows.
  • No mortgage insurance premium (MIP)
  • No initial disbursement limitation – you take the full amount of your funds at closing.
  • Condominiums appraised at $500,000 or more do not require FHA approval.
  • If you’re buying a house or condo, seller concessions and lender credits are allowed.

Compared to a Home Equity Conversion Mortgage (HECM), HomeSafe offers these great advantages.

Offering Fixed and/or Variable (Annual/Monthly) Rates

There are two types of adjustable rate loans.  One adjusts monthly and the other adjusts annually in which both are capped.    The rate is typically tied to the LIBOR index, which is very similar to the US Treasury Bill rate.  It is a very stable index.  Fixed rate options are also available.

Customer Reviews

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CONTACT US

Get A FREE QUOTE

Fill out the form below to get confidential results and FREE Reverse Mortgage Information.

by a licensed Reverse Mortgage Professional

The Valdez Group

The Reverse Mortgage Professionals

512-288-4700

800-676-5619

JoeValdez@OpenMtg.com

Street Address:

2508 Williams Dr, Ste 140

Georgetown, TX 78628

       

© 2016 Valdez Group Reverse Mortgage


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DBA of the Open Mortgage Loan Network –  NMLS Consumer Access | Privacy Policy | Do Not Track Policy
Open Mortgage, LLC and its DBAs are not acting on behalf of or at the direction of HUD/FHA or the federal government. This material is not from HUD or FHA and has not been approved by HUD or any government agency.
PURSUANT TO THE REQUIREMENTS OF SECTION 157.007 OF THE MORTGAGE BANKER REGISTRATION AND RESIDENTIAL MORTGAGE LOAN ORIGINATOR ACT, CHAPTER 157, TEXAS FINANCE CODE, YOU ARE HEREBY NOTIFIED OF THE FOLLOWING: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE, SIGN AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEB SITE AT WWW.SML.TEXAS.GOV