If you live in Rhode Island and want to work with a local reverse mortgage specialist you have come to the right place. Because we are local, we can meet with your face to face in the comfort of your own home or at one of our mortgage offices located throughout Rhode Island.

We specialize in the Home Equity Conversion Mortgage or HECM (HECK-UM), also known as a reverse mortgage. It is all we do. When you work with us you know that you are working with loan officers that are going to be able to answer all your questions. And not only answer your questions but structure the loan in a way that will meet your financial needs now and into the future.

What Sets Us Apart from Other Reverse Mortgage Lenders in Rhode Island

We are a direct lender – What that means is that originate, process, underwrite, fund and service all our loans. The last part, we service our loan, we have found is very important to our clients in Rhode Island. They want to know that they will be working with us for the life of their loan.

We are referral based – Unlike several other lenders, we don’t spend millions of dollars a year on advertising. Because of this we can pass those savings on to you in the form of better interest rates and lower fees.

Continuous training – Our loan officers are required to attend continuous training on the reverse mortgage loan options as well as advanced planning and utilization techniques to ensure all of our clients in the Rhode Island area are being served in the best way and their reverse loans are structured properly.

It could be overwhelming to decide if applying for reverse mortgage in will be the right choice for you. When you are looking at making that determination, you should meet with a loan officer that specializes in this kind of loan.

Our mortgage loan originators are committed to sticking to our code of conduct and ethics policies. Every single loan must be structured to meet your needs and goals and objectives in the best way possible as well as share with you all the conditions and terms of your loan. Our loan officers aren’t permitted to suggest or sell other products such as annuities, insurance or investment products. We think our fees and rates are among the best in the marketplace, but you should feel free to comparison shop to ensure that you are getting the best deal. It’s your choice; only you can decide what meets your needs.

Having knowledge about this product is essential to everything. Not only should you complete as much research as possible about reverse mortgages which includes how they work, examples and the pros and cons. You should also do research on lenders in .This should not only save time, but may enable you to get a better offer. If you want a very good explanation of how a reverse mortgage works, the negatives, pluses and minuses, misunderstandings, {meanings}, definitions plus much more, Then you should go to the US Department of Housing and Urban Development website.

A reverse mortgage is a great option for many people, but it may not be the right match for what you need. For many people the reverse mortgage will be the only option, For other people, there can be all types of options that should be evaluated. For anybody who is pretty sure that the reverse mortgage is what you need, call us now. You can speak with your local lending expert who is going to discuss every step of the process and answer each and every question and concern you may have. We strongly recommend reading our code of conduct and ethics policies to get a better understanding how the company and it’s staff members are expected to behave.

What is a Reverse Mortgage?

Very simply, it is just like a regular mortgage with the exception that there are no monthly mortgage payments required. You still need to pay property taxes, insurance and maintain the home.
It is regulated by HUD and insured by FHA.

The Basics
• At least one spouse must be 62 or older.
• Your home in Rhode Island must be your primary residence.
• You can get a loan on a single family, multifamily up to 4 units, town home, HUD approved manufactured home and FHA approved condominiums.
• You will be required to attend counseling from a HUD approved counselor.
• You must continue to pay your property taxes, insurance and other property charges.
• The amount you can borrow is based on the youngest persons age, home value and current interest rates.
• You can access your home equity as a lump sum, line of credit, month payments for as long as you live in the home, monthly payments for a specific period of time or a combination of those options.

For any homeowners not living in Detroit I also work within all these metropolitan areas: Hamtramck, Dearborn, Lincoln Park, Harper Woods, Hazel Park, Wyandotte, Allen Park, Ferndale, Grosse Pointe Woods, Eastpointe Being face to face with somebody local is extremely important to many of our potential customers. That makes a whole lot of sense simply because getting a reverse mortgage loan is a major decision.

Have Questions About Getting a Reverse Mortgage in Rhode Island?

There is no doubt that you have questions about getting a reverse mortgage in Rhode Island. We are happy to answer every question you have about this loan product.

Questions like:
• What is the downside to a reverse mortgage?
• What are the pros and cons of a reverse mortgage?
• How much can you borrow with a reverse mortgage?
• Is the reverse mortgage a good idea?
• Does it make sense to get a reverse mortgage?
• Does my home in Rhode Island qualify for a reverse mortgage?
• How does a reverse mortgage work?
• Are there risks to getting a reverse mortgage?
• What happens to the reverse mortgage when I die?
• Is the reverse mortgage a good fit for me?

While there are general answers to these questions. The answers will vary from each individual person. This is why you should talk with one of our local Rhode Island experts so you can get a personalized answer to your unique situation.