Can I apply if I didn't buy my present house with FHA mortgage insurance?

Posted by OscarNOW , , , , , , , , , , , , , 9:06 PM

Yes. It doesn't matter if you didn't buy it with an FHA-insured mortgage. Your new FHA HECM will be FHA-insured.

Posted by OscarNOW on 9:06 PM. Filed under , , , , , , , , , , , , , . You can follow any responses to this entry through the RSS 2.0

1 comments for �Can I apply if I didn't buy my present house with FHA mortgage insurance?�

  1. Olivia Wilson
    February 27, 2022 at 9:03 PM

    Consider construction perm loans if you need money to get a construction project off the ground. The Cardinal Financial Company provides a building loan with a long repayment period. It is anticipated that this loan will be turned into a mortgage as soon as the home's construction is done. Rae Drake is on hand to make the process of acquiring this loan as simple as possible.

   

Leave comment

FB

A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence or fail to meet the obligations of the mortgage. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.

Reverse Mortgage Solutions

FLICKR PHOTO STREAM

2010 Reverse Mortgage Information. All Rights Reserved. - Web Design SimplexDesign