Group One Mortgage is Headquartered in Palm Beach County, with a Reverse Mortgage Team specializing in reverse mortgage loans. Our experts work with reverse mortgage applicants from application to closing on their reverse mortgage.
How are reverse mortgages are being used?
- A reverse mortgage can replace a current mortgage, and eliminate a monthly mortgage payment.
- A reverse mortgage can provide a line of credit that can actually grow over time.
- A reverse mortgage can be used to recieve term or life payments.
- A reverse mortgage can provide a lump sum of cash.
- A reverse mortgage can be used to help buy a home.
- A reverse mortgage can set aside funds to pay for future property taxes and insurance payments on your property.
FREE Reverse Mortgage Consultation
Our experienced experts will discuss your options in detail, provide you with detailed program information, quote package with loan estimates, cost and expected fees. Reverse Mortgage loans can be structured in many ways to meet your needs. It’s important to know your options in detail, and have all your questions!
The amount you can qualify for depends on the value of the property, rate and the age of the youngest borrower. To learn more about your options, call us directly at 561-203-6772 to speak with a local reverse mortgage professional.
Disclaimer:(1)Loan proceeds are paid tax-free; consult your tax advisor. (2) If you qualify and your loan is approved, a Reverse Mortgage must pay off your existing mortgage(s). With a Reverse Mortgage, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. Reverse mortgages are first and second mortgage loans. These materials are not from HUD or FHA and were not approved by HUD or a government agency.