More Loan Options
- Reduce Your Interest Rate
- Cash Out Equity for Home Improvements
- Consolidate Debt
- Lower Monthly Payments
- Low down payments
- Low closing costs
- Easy credit qualifying
The USDA changed rules in 2009 that makes millions of Americans eligible for its rural mortgage programs. The American dream of homeownership has become more difficult as families struggle to come up with the 20% down payment that many conventional home loans require. With the USDA Loan TN many are still able to get a zero down home loan. Let Joel help you see if you qualify.
In a “regular” mortgage, you make monthly payments to the lender. But in a “reverse” mortgage, you receive money from the lender and generally don’t have to pay it back for as long as you live in your home. Instead, the loan must be repaid when you die, sell your home, or no longer live there as your principal residence. Reverse mortgages can help homeowners who are house-rich but cash-poor stay in their homes and still meet their financial obligations.
To qualify for most reverse mortgages, you must be at least 62 and live in your home. The proceeds of a reverse mortgage (without other features, like an annuity) are generally tax-free, and many reverse mortgages have no income restrictions.