Private Reverse Mortgage Available in Nevada
Nevada residents are now able to utilize a private reverse mortgage product called "HomeSafe", which was created to provide even more access to your home's equity. Previously, the only option in NV was the HECM reverse mortgage, which is federally backed and has a loan limit of $636,150 (note: that loan limit is increasing to $679,650 as of January 1, 2018). As a result, many homeowners with higher valued properties or non-FHA approved condos may have not been able to qualify under the HECM program or may have not qualified for as much of their equity as they would have liked. This private jumbo program could solve that issue by allowing loan amounts up to $4 million and condos valued over $500,000. If you have an existing reverse mortgage, you could refinance into the jumbo program to potentially access a larger amount of your equity. Or if you are looking at a reverse mortgage for the first, this product could provide the key to unlocking the equity in your home to give your more control over your assets, investments and cash flow.
Rick R. Rodriguez
Certified Reverse Mortgage Professional (CRMP)
NMLS# 473353
Toll Free (877) 500-0454
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