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Reverse Mortgages for Seniors in Pasadena, Covina, Fontana, Ontario, Pomona, San Bernardino, CA, and the Surrounding Areas

 

Home4 Factors That Determine How Much You Can Borrow for your Reverse Mortgage Loan

Are you thinking of applying for reverse mortgages for seniors? This is definitely one of the wisest decisions. This is one of the best ways to secure your financial future. We, at Futura Financial, are an experienced, certified, and licensed company that can offer you various kinds of reverse mortgage loans such as the HECM loan. So, when you take a reverse mortgage loan, usually the lender will allow you to borrow a certain amount of home equity. Now, this amount depends on certain factors. Read on to know more.


The more you age, the more can you borrow. The lender usually considers your life expectancy to calculate how long it will be until the whole loan is repaid because you will get the access to your home for the rest of your life without having to pay the reverse mortgage back. Since it can be paid back sooner the more you age, the lender borrows you more as you grow older.


You will be eligible to borrow more if your property value is more. So, you can borrow a greater percentage for an appraised value of home.


There are various kinds of reverse mortgages. And depending on the particular loan program that you have chosen, the amount to be borrowed can also vary. So, this is another factor that will determine how much you can borrow with your reverse mortgage loan.


Reverse mortgage is also a kind of loan. The lender will charge interest on the amount of money you borrow. The greater the market rates of interest would be, the lesser amount of will be able to borrow because a greater percentage will then be moving towards the interest.


So, if you live in areas like Covina CA, Fontana CA, Ontario CA, Pasadena CA, Pomona CA, and San Bernardino CA, then you should contact us now for HECM or other mortgage loans.

 

Meet our staff

 

SCOTT WILSON
Futura Financial Inc.
Owner/Broker
Office: (626) 442-188 | Cell: (626) 523-9130 | Fax: (626) 442-8424
scottwilson@futurafinancial.com

 

 

 

 

BOBBY COMPTON
Futura Financial Inc.
Associate Broker/Mortgage Loan Originator
Office: (626) 442-1888 | Direct: (626) 945-2382 | Fax: (626) 442-8424
Dallas35@earthlink.net

 

 

 

 

BRENDA JACOBY BURCIAGA
Futura Financial Inc.
Mortgage Loan Originator
Office: (626) 442-1888 | Cell: (951) 453-1078 | Fax: (626) 442-8424
brenda@futurafinancial.com

 

 

 

 

ALEX MUNOZ
Futura Financial Inc.
Loan Processor
Office: (626) 442-1888 | Fax: (626) 442-8424
alexmunoz@futurafinancial.com

 

 

 

 

FERNANDO REZA
Futura Financial Inc.
Associate Broker/Mortgage Loan Originator
Office: (626) 442-1888 | Cell: (626) 388-5518 | Fax: (626) 442-8424
fernandoreza@futurafinancial.com