Are your borrowers over the age of 62? Compare a Home Equity Conversion Mortgage to your HELOC today!
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Email: WSPartner@mutualmortgage.com Phone: 619.798.4353
Synergy One Lending Inc. d/b/a Mutual of Omaha Mortgage, NMLS 1025894. 3131 Camino Del Rio N 190, San Diego, CA 92108. Alabama Consumer Credit License 22123; Arizona Mortgage Banker License 0926603; Arkansas Combination Mortgage Banker/Broker/Servicer License 109250; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License 4131356; Loans made or arranged pursuant to a California Finance Lender Law license, 60DBO93110; Colorado Mortgage Registration 1025894; District of Columbia Mortgage Dual Authority License MLB1025894; Hawaii Mortgage Loan Originator Company License HI-1025894; Illinois Residential Mortgage Licensee MB.6761115; Maine Supervised Lender License 1025894; Maryland Mortgage Lender License 21678; Minnesota Residential Mortgage Originator Exemption MN-OX-1025894; Montana Lender License 1025894; Nevada Exempt Company Registration 4830. Licensed by the New Hampshire Banking Department 19926-MB; Licensed by the New Jersey Banking and Insurance Department. New Jersey Residential Mortgage Lender License 1025894; New Mexico Mortgage Loan Company License 1025894; North Dakota Money Broker License MB103387; Oregon Mortgage Lending License ML- 5208; Rhode Island Lender License 20163229LL. Rhode Island Loan Broker License 20163230LB; Tennessee Mortgage License 190182; Vermont Lender License 6891; Washington Consumer Loan Company License CL-1025894. (866) 200-3210. Subject to Credit Approval.
Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property.