common Questions

Do you have questions? We can help! You will find the answers to several frequently asked mortgage questions below.

Do you have questions? We can help! You will find the answers to several frequently asked mortgage questions below.

Less

What is a reverse mortgage?

What is a reverse mortgage?

Less

A Reverse mortgage is a loan available to seniors over the age of 62 which allows them to convert the equity in their home into cash. A reverse mortgage can also be used to purchase a home.

A Reverse mortgage is a loan available to seniors over the age of 62 which allows them to convert the equity in their home into cash. A reverse mortgage can also be used to purchase a home.

Less

How can I use the money I receive from a reverse mortgage?

How can I use the money I receive from a reverse mortgage?

Less

There is no restriction on how the proceeds from a reverse mortgage can be used.

There is no restriction on how the proceeds from a reverse mortgage can be used.

Less

How can I qualify for a reverse mortgage?

How can I qualify for a reverse mortgage?

Less

To qualify for a reverse mortgage a borrower must be at least 62 years old, own a home, and have sufficient equity in that home. A lender will also complete a financial assessment of the borrower.

To qualify for a reverse mortgage a borrower must be at least 62 years old, own a home, and have sufficient equity in that home. A lender will also complete a financial assessment of the borrower.

Less

Will my home qualify for a reverse mortgage?

Will my home qualify for a reverse mortgage?

Less

Single-family homes, 2-4 unit properties (one unit occupied by owner), FHA-approved manufactured homes, HUD approved condominiums, and townhomes are eligible for a reverse mortgage.

Single-family homes, 2-4 unit properties (one unit occupied by owner), FHA-approved manufactured homes, HUD approved condominiums, and townhomes are eligible for a reverse mortgage.

Less

How much money can I get from a reverse mortgage?

How much money can I get from a reverse mortgage?

Less

The amount will vary borrower to borrower and is based on a few factors including age of the youngest borrower, current interest rates, value of your home, and how much you may owe on an existing mortgage.

The amount will vary borrower to borrower and is based on a few factors including age of the youngest borrower, current interest rates, value of your home, and how much you may owe on an existing mortgage.

Less

SOCIAL MEDIALess

SOCIAL MEDIA

CONTACTLess

CONTACT

Success Mortgage Partners

Reverse Mortgage

Success Mortgage Partners

Reverse Mortgage

Less

Phone: 1-833-SMP-RVMG or 1-833-767-7864

Phone: 1-833-SMP-RVMG or 1-833-767-7864

Less

This material has not been reviewed, approved, or issued by HUD, FHA, or any governmental agency. The company is not affiliated with or acting on behalf of or at the direction of HUD, FHA or any other government agency. Success Mortgage Partners, Inc., 1200 South Sheldon Road, Suite 150, Plymouth, MI 48170, NMLS #130562, HUD ID No. 21293-0000-5, MI #FR0020098, FL #MLD 623, NMLS #130562, GA #GRMA-36474, IN #19238, IL #MB 6761028, TX Reg #130562, NC #L-159206. Not all products and options are available in all states. Terms subject to change without notice. This is not a loan commitment. All loans are subject to approval.

This material has not been reviewed, approved, or issued by HUD, FHA, or any governmental agency. The company is not affiliated with or acting on behalf of or at the direction of HUD, FHA or any other government agency. Success Mortgage Partners, Inc., 1200 South Sheldon Road, Suite 150, Plymouth, MI 48170, NMLS #130562, HUD ID No. 21293-0000-5, MI #FR0020098, FL #MLD 623, NMLS #130562, GA #GRMA-36474, IN #19238, IL #MB 6761028, TX Reg #130562, NC #L-159206. Not all products and options are available in all states. Terms subject to change without notice. This is not a loan commitment. All loans are subject to approval.

Less