Reverse Mortgage Funding expands payment options on proprietary reverse product

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With virtually no proprietary reverse mortgage products on the market, almost all reverse mortgages originated in the past 3 plus years have been FHA Reverse Mortgages. To help support the reverse mortgage market and the demand for these unique home equity loans, FHA and HUD have kept the maximum loan amount at the all time high of $625,500.

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With home equity sharing products beginning to make a comeback following the housing crisis and recovery, one California startup is now exiting its private beta phase. Patch may not compete.

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EQUITY ELITE REVERSE MORTGAGE introducing equity elite reverse mortgage, an innovative new loan product available exclusively from Reverse Mortgage Funding LLC (RMF) as the lender. If you’re age 60 or older and own or are planning to buy a house or condo, Equity Elite lets you tap into more of your home’s equity, sooner rather than later.

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This and their licensed specialists make it an easy option for those new to the concept of reverse mortgages.. extend certain proprietary reverse mortgage products to homeowners as young as 60.

EasyKnock, based in New York City and last month the recipient of $215 million in investment funding, says it has partnered with eight of the top 10 reverse mortgage lenders. much-needed options..

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Proprietary reverse mortgages are private loans that are backed by the companies that develop them. If you own a higher-valued home, you may get a bigger loan advance from a proprietary reverse mortgage. So if your home has a higher appraised value and you have a small mortgage, you might qualify for more funds.

And while most seniors do so out of necessity, a reverse mortgage can. funding prospects and access to additional home equity for retirees," says Sahil Gupta, co-founder and CEO of Patch Homes, a.

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