Get yourself a reverse mortgage in South Berwick as a way to strengthen net income.I'm so glad you found us, bestateuse this means we can work with the best of both worlds. We are local to your area, which will allow for personal meetings in the comfort and privacy of YOUR home or our reverse mortgage offices here in South Berwick ME! A reverse mortgage is a loan available to South Berwick seniors over the age of 62. It can be used in place of monthly payments and you are free to pay us as much or little as you want, whenever your heart desires!

What Should You Expect from a Reverse Mortgage in South Berwick ME

The homeowner will be required to pay property taxes, insurance rates and other fees if they take out a reverse mortgage. One condition of the loan is that you must maintain your home; however, this does not mean simply making sure it looks nice enough for visitors. You should also plan on living in the your home as your primary residence to qualify for one of these loans. A Reverse Mortgage, also known as a Home Equity Conversion Mortgage (HECM) is a mortgage loan that homeowners take out against the their home. A reverse mortgage in South Berwick can provide you with monthly payments for life, a lump-sum payment, line of credit or a combination of those things.

My Home Needs Repairs - Can I Still Get A Reverse Mortgage in South Berwick ?

A reverse mortgage is a great way to provide for yourself in retirement or take the financial pressure off your shoulders. While it's an excellent choice, doing thorough research before you decide on anything will help guide the decision-making process and make sure that this loan option available in South Berwick fits with what you need. Seniors in South Berwick are more concerned than ever with their financial security, and the best place for them to find a new start is in your home. Your mortgage may just be what you need! There's no better way of securing yourself financially.

At What Age Can I Apply for a Reverse Mortgage?

As the population in South Berwick continues to grow older and life expectancies increase, more people are going to be living longer in retirement. This means they will will need different sources of cash flow that is not entirely reliant on Social Security or other pensions from their employers. Potential borrowers may want to consider this loan product for their particular financial situation if it turns out they cannot sustain themselves without any help at all after a long career with an employer who no longer exists. Assuming you will qualify for a reverse mortgage and you want to apply, you will need some pretty common documents. These include your ID, Social Security card, Social Security awards Statement, Social Security 1099, current mortgage Statement, homeowners declaration page. There may be other documentation needed depending on the scenario such as tax returns, trusts, bank Statements etc..

Call Us

In order to get the best interest rates and fees for a reverse mortgage in South Berwick you will need to be diligent in your search. This means that you'll have to contact several different lenders but don't worry bestateuse we can help! We're an independent company so our only goal is give each customer the fairest rate possible, even if it's not with us. This is a great option for seniors in South Berwick looking into retirement that hasn't paid their mortgage off yet. However, if you plan to move or sell your property then this loan isn't the right choice for you. This is bestateuse you will be required to pay it back once you move. If you don't already have the funds secured to pay it, then there may be a penalty. Seniors in South Berwick deserve expertly crafted reverse mortgage loans that are tailored to their needs. When you call us, we'll help figure out which loan is right for your situation and make the process as easy as possible so you can get back on track with life quickly!

We work with customers within these places too: Eliot, Berwick, Cape Neddick, Wells, York Harbor We’ve discovered that most senior homeowners wish to work together with somebody local. There is no reason to use a mortgage lender on line when you can work directly by using a lender in South Berwick.