FHA Loan - Debbie Cooley Mortgage

TAKE A SECOND TO BREATH

Debra Cooley-Guy — Wed, 01 May 2024 17:28:27 +0000

Access Equity with No Additional Monthly Mortgage Payments Required*

HomeSafe Second is a new fixed-rate reverse loan that allows you to tap into your home equity via a second mortgage. There is no additional monthly payment requirement and no change to the interest rate on your first mortgage, for example you have a first mortgage at 2.9% you would want to keep and not refinance at today’s higher rates.

HomeSafe Second is for people who need to:

• Consolidate high-interest credit card debt

• Cover rising costs at the pump and the grocery store

• Fund long-term care, medical expenses, or emergencies

• Pay off an existing 2nd mortgage

How it works: You need to be 62 years or older. HomeSafe Second loans you a portion of your home equity via a second mortgage. There are no additional monthly mortgage payments required until you leave your home, stop paying property charges, or do not meet the terms of the loan.

Contact Debbie Cooley-Guy at Innovative Mortgage for more information. 727-688-2851 NMLS 210817

DebbieCooleyMortgage.com NMLS 836635 Equal Housing Lender

The post TAKE A SECOND TO BREATH first appeared on Debbie Cooley Mortgage.

REVERSE MORTGAGE USED FOR DREAM HOME PURCHASE

Debra Cooley-Guy — Mon, 11 Sep 2023 22:18:20 +0000

Reverse Mortgage is a strategic tool that allows adults 62 and over to increase their buying power for the purchase of their new dream home while eliminating required monthly mortgage payments.

Move closer to family and loved ones
Buy on the beach, the golf course, or wherever your dreams take you
Downsize to reduce cleaning and maintenance needs
Increase buying power for a home previously out of reach
Eliminate your monthly mortgage payments
Improve cash flow and preserve savings
Heirs not personally responsible for the loan balance

Learn how Reverse for Purchase can elevate your home-buying opportunities.

Call Debbie Cooley-Guy at 727-688-2851

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

The post REVERSE MORTGAGE USED FOR DREAM HOME PURCHASE first appeared on Debbie Cooley Mortgage.

WHY MORE FINANCIAL ADVISORS ARE RECOMMENDING REVERSE MORTGAGES

Debra Cooley-Guy — Fri, 14 Jul 2023 15:18:30 +0000

Over several decades, reverse mortgages have gone through an evolution of policy and legislative changes that incorporate key protections for borrowers. Thanks to improved regulations and education and a changing financial landscape, these financial tools, once considered questionable by many financial advisors, are now getting a second look.

Here’s what financial advisors see in reverse mortgages that have made them change their minds and start recommending them to their clients.

Safer Than Ever

In the past, multiple factors, including terms that didn’t advantage the borrower, consumer confusion, and a lack of guide rails, led to a poor reputation in the financial community that has been difficult to shake. However, over the past thirty years, multiple safeguards have been implemented to ensure these loans are not used improperly and that borrowers benefit. Here are some of the most notable changes.

Government-insured. In 1987 the Federal Housing Authority (FHA) passed legislation to insure home equity conversion (HECM) mortgages. This legislation also made reverse mortgages non-recourse.
Increased transparency. Later legislation required lenders to reveal the total annual costs of a reverse mortgage loan.
Borrower education. Since 1998, all reverse mortgage borrowers have been required to participate in third-party counseling to ensure they understand reverse mortgage obligations.
Lender awareness. Lenders must conduct a financial assessment before offering a reverse mortgage to determine if a homeowner can keep up with home maintenance costs, property taxes, and home association dues.
Limited available equity. Before 2013, borrowers were allowed to take 100% of their proceeds at closing. Current legislation mandates that borrowers can take out only 60% of available funds during the first year.

Client Needs Are Changing

One possible reason for the change in financial advisors’ attitudes toward reverse mortgages is a changing client profile that necessitates finding alternate ways of funding retirement.

Retirement-aged Americans are holding historically high amounts of equity, while at the same time, many people in the same group are lagging in retirement savings and planning. Many financial advisors see an avenue for closing retirement planning gaps in that excess equity. Reverse mortgages offer a safe way of tapping that equity while remaining in their homes.

Not only do reverse mortgages remove monthly mortgage payments, offering retirees the benefit of increased cash flow, but their flexible payout options support a range of strategies that financial advisors can tailor to their client’s individual needs and financial situations.

4 Ways Financial Advisors Are Using Reverse Mortgages for Their Clients

As financial advisors begin to understand the flexibility and opportunities reverse mortgages offer their clients, they are finding more ways of leveraging them to their client’s advantage. The following are some of the ways financial advisors are using reverse mortgages as part of larger retirement strategies:

Fund a Roth-IRA Conversion

Converting a traditional IRA to a Roth IRA is a common strategy that requires paying taxes on the existing account balance. Retirees whose portfolios would benefit from a Roth-IRA conversion but don’t have the necessary funds to pay the taxes may use non-taxable reverse mortgage proceeds to pay for the conversion.

Hedge Against Future Risks

A reverse mortgage line of credit functions differently than a HELOC. Once established, the unutilized credit amount grows over time and cannot be canceled as long as the borrower upholds the terms of their loan. Unused credit is not charged interest. This line of credit offers future borrowing power when and if the borrower needs it. During downturns in an investment portfolio, a retiree can access available capital anytime.

Preserve Current Investment Portfolio

Market fluctuations are bound to happen, but a retiree can preserve an investment portfolio with loan proceeds from a reverse mortgage. Using proceeds as an income alternative, retirees retain the benefit of watching their portfolio grow. The retiree leaves the portfolio alone, allowing it to rebound with the market potentially.

Allow Retirees to Age in Place

Having a reverse mortgage is a feasible option to allow retirees to age in place. Retirees can use their homes as assets and leverage the equity to skip monthly payments, use loan proceeds for daily expenses, or fund necessary renovations.

The Reverse Mortgage Recommendation Catch-22

As reverse mortgages help more and more people achieve their financial goals, their reputation continues to improve. But because financial advisors are keen to protect the interests of their clients, many have been slow to even investigate reverse mortgages as a possibility. Without the input of their financial advisors, many people who could benefit don’t learn about opportunities they may have for using their equity to their advantage. This reverse mortgage Catch-22 is slowly correcting itself as the industry’s reputation improves.

If you think a reverse mortgage might help you and your financial advisor hasn’t brought it up, ask! You may be opening a door of possibility for yourself and others who find themselves in a similar situation.

This article is intended for general informational and educational purposes only, and should not be construed as financial or tax advice. For more information about whether a

reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional. To find out how to use your home equity to live your best life call Debbie Cooley-Guy at 727-688-2851.

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

The post WHY MORE FINANCIAL ADVISORS ARE RECOMMENDING REVERSE MORTGAGES first appeared on Debbie Cooley Mortgage.

MONEY FOR FIRST-TIME HOME BUYERS

Debra Cooley-Guy — Thu, 22 Jun 2023 14:01:14 +0000

The Florida Hometown Heroes Housing Program makes homeownership affordable for eligible community workforce. The Florida Hometown Heroes Housing Program

This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers so they can purchase a primary residence in the community where they work and serve. The Florida Hometown Heroes Loan Program also offers a lower first mortgage interest rate and additional special benefits to those who have served and continue to serve their country.

Program Details:

Eligible full-time workforce, employed by a Florida-based employer can receive lower than market interest rates on an FHA, VA, RD, Fannie Mae, or Freddie Mac first mortgage, reduced upfront fees, no origination points or discount points, and down payment and closing cost assistance.
Borrowers can receive up to 5% of the first mortgage loan amount (maximum of $35,000) in down payment and closing cost assistance.
Down payment and closing cost assistance are available in the form of a 0%, non-amortizing, 30-year deferred second mortgage. This second mortgage becomes due and payable, in full, upon sale of the property, refinancing of the first mortgage, transfer of the deed, or if the homeowner no longer occupies the property as his/her primary residence. The Florida Hometown Heroes loan is not forgivable. Call Debbie @ Innovative Mortgage DBA Debbie Cooley Mortgage.

Debbie Cooley-Guy is an excellent resource for any of your mortgage needs from the first-time home buyer to the last mortgage of a lifetime. Call Debbie @ 727-688-2851

for a free consultation.

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

The post MONEY FOR FIRST-TIME HOME BUYERS first appeared on Debbie Cooley Mortgage.

“5 Ways to Finance Generational Housing: From Traditional Mortgages to Creative Solutions”

Debra Cooley-Guy — Wed, 10 May 2023 18:42:20 +0000

As people age, it is common for families to consider generational housing, which involves multiple generations living together in the same household. However, financing generational housing can be challenging, as it often involves significant upfront costs and ongoing expenses. In this blog, we will explore some of the best ways to finance generational housing, including traditional mortgage options and creative solutions.

Traditional Mortgages

One of the most common ways to finance generational housing is through a traditional mortgage. This involves borrowing money from a lender to purchase the property and paying it back over time, typically with interest. However, obtaining a mortgage for generational housing may require more documentation and a higher credit score than a standard mortgage. It is also important to consider the ongoing expenses of maintaining the property and paying property taxes and insurance.

Multigenerational Mortgages

A multigenerational mortgage is a specialized type of mortgage designed for families who want to purchase a home together. These mortgages often allow multiple borrowers to be on the loan, which can make it easier to qualify for financing. Additionally, multigenerational mortgages typically have lower down payment requirements and flexible income and credit requirements. This type of mortgage can be an excellent option for families looking to finance generational housing.

Home Equity

Another option for financing generational housing is to use home equity. Home equity is the difference between the value of your home and the outstanding balance on your mortgage. If you have significant equity in your home, you may be able to use it to finance a new property or renovate your existing home to accommodate multiple generations. Home equity loans typically have lower interest rates than other types of loans, making them an attractive option for financing.

Co-living Arrangements

Another creative way to finance generational housing is through co-living arrangements. Co-living involves multiple families or individuals sharing a single property and splitting the expenses. This can be an excellent option for families who want to save money on housing costs while still enjoying the benefits of living together. Additionally, co-living arrangements can provide social and emotional support, which can be beneficial for people of all ages.

Government Programs

Finally, there are several government programs available to help families finance generational housing. For example, the Federal Housing Administration (FHA) offers a range of mortgage programs that can be used to purchase or refinance a home, including programs designed specifically for low-income families and seniors. Additionally, the Department of Housing and Urban Development (HUD) offers grants and loans to help families with home repairs and renovations.

In conclusion, financing generational housing can be challenging, but there are many options available to make it more affordable. Whether you choose a traditional mortgage, a multigenerational mortgage, home equity, co-living arrangements, or government programs, it is important to consider your unique needs and financial situation when making a decision. With careful planning and research, you can find the right financing solution for your family and enjoy the benefits of living together across generations. Call Debbie @ Debbie Cooley Mortgage at 727-688-2851.

#GenerationalHousing #MultigenerationalLiving #Mortgages #HomeEquity #CoLiving #GovernmentPrograms #FamilyFinance #FinancialPlanning #SeniorLiving #Homeownership

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

The post “5 Ways to Finance Generational Housing: From Traditional Mortgages to Creative Solutions” first appeared on Debbie Cooley Mortgage.

SHOULD I WAIT TO BUY A HOUSE?

Debra Cooley-Guy — Wed, 22 Mar 2023 16:51:05 +0000

Buying a home is a major decision that requires careful consideration. In 2023, the housing market may be in a different place now, so it’s important to evaluate your personal and financial situation before making a decision. In this blog, we’ll explore some of the factors you should consider when deciding whether or not to buy a home in 2023.

Your financial situation

One of the most important factors to consider when buying a home is your financial situation. Do you have enough money saved for a down payment? Can you afford the monthly mortgage payments? You should also consider your other expenses, such as car payments, student loans, and credit card debt. Before buying a home, it’s important to make sure that you can comfortably afford the monthly payments and that you have a solid financial foundation. If you are paying rent over $2000 a month you should at least get pre-qualified.

The housing market

The housing market is constantly changing, and it’s important to stay up to date on trends and predictions. In 2023, the housing market may be in a different place than it is now. It’s important to research the local housing market in your area to get an idea of what prices and inventory are like. If housing prices are high and inventory is low, you may have a more difficult time finding the right home at a price you can afford.

Your future plans

Another important factor to consider when buying a home is your future plans. Are you planning to stay in the same location for the next few years? Will your job or personal situation require you to move in the near future? If you’re not sure where you’ll be in a few years, it may be better to wait.

In closing

I have worked with buyers for up to 3 years helping them get ready to purchase their first home. In some of the situations, I have helped work on getting a credit score up. Another big reason people need to wait to buy is they are self-employed. A 2 year average is recommended.

Call Debbie Cooley-Guy at 727-688-2851 to get more information on how and when to purchase a home, whether your first or last home.

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

The post SHOULD I WAIT TO BUY A HOUSE? first appeared on Debbie Cooley Mortgage.

Who is a First Time Homebuyer?

Debra Cooley-Guy — Mon, 13 Mar 2023 23:50:31 +0000

A first time home buyer is an individual who is purchasing their first home. Typically, this means that they have never owned a home before, or if they have, it was only for a short period of time. After 3 years of not owning a home, you are also considered a first-time home buyer.

Buying a home can be an exciting and daunting experience, especially for first-time buyers. It is a significant financial investment and requires careful consideration of several factors before deciding.

Here are some tips for first-time home buyers:

Determine your budget: Before you start your home search, it is essential to figure out how much you can afford. Consider your current income, monthly expenses, and future financial goals.
Get pre-approved for a mortgage: Getting pre-approved for a mortgage will give you a better idea of how much you can afford and help you narrow your home search.
Research the housing market: Take the time to research the housing market in your desired area. Look at the median home prices, local amenities, and any other factors that may affect your decision.
Hire a real estate agent: A real estate agent can help you navigate the home-buying process, negotiate with sellers, and provide valuable advice.
Attend open houses: Attending open houses will give you a better idea of what you are looking for in a home and help you narrow down your search.
Get a home inspection: A home inspection is essential before purchasing a home. It will help identify any potential issues or repairs that need to be made.
Consider closing costs: Closing costs can add up quickly, so it’s important to factor them into your budget.

Buying a home can be a challenging process, but it can also be a rewarding experience. As a first-time home buyer, take the time to research your options, establish a budget, and work with a trusted real estate agent to make the process as smooth as possible.

In conclusion, a first-time home buyer is someone who is purchasing their first home. It’s a significant financial decision that requires careful consideration of several factors. By following these tips, you can make an informed decision and find the perfect home for you.

Debbie Cooley-Guy is an excellent resource for all of your first-time home buyer needs. call Debbie @ 727-688-2851

#FirstTimeHomeBuyer #HomeBuying #NewHome #RealEstate #HomeOwnership #Mortgage #HouseHunting #DreamHome #HomeSweetHome #HomeBuyingTips #FirstHome #HomeBuyer #HomeBuyingProcess #HomeBuyerJourney #HomeBuyingExperience

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

The post Who is a First Time Homebuyer? first appeared on Debbie Cooley Mortgage.

Guide to Reverse Mortgage for Children and their heirs

Debra Cooley-Guy — Wed, 01 Mar 2023 13:53:32 +0000

When heirs learn about a reverse mortgage after losing a loved one, they may not appreciate the many benefits their parents received. In addition, they may have some confusion about their responsibilities and what will happen with the loan next. This guide is to help children and heirs navigate a reverse mortgage once their loved one has passed away. Here, we address the processes surrounding a home equity conversion mortgage (HECM) or federally guaranteed mortgage.

Why Did Your Parents Take a Reverse Mortgage?

Ideally, when parents take out a reverse mortgage, they share that information with their children and heirs. Those talks might focus on the purpose of a reverse mortgage, the terms of the loan, and what heirs and children need to do should they want to keep the house after the last surviving borrower passes away.

Often, however, parents don’t discuss their financial decisions with their children. Hopefully, the borrower left loan details with all other important financial documents for their heirs in these cases. But even if they receive proper documentation, heirs who were unaware that their parents had taken a reverse mortgage may feel disappointed and confused.

If your parent took a reverse mortgage without informing you, it can be helpful to understand that people take reverse mortgages for a variety of reasons, including achieving financial flexibility that otherwise might not have been possible.

With a reverse mortgage, the equity they have built up in their home over many years can offer a needed source of income or an avenue to continue living in a home they love. In some instances, a reverse mortgage allows people to remain financially independent in their later years.

Though it can seem selfish, parents often take a reverse mortgage to avoid placing a financial burden on their adult children. Everyone’s situation and motivations are different, but looking at the terms of the reverse mortgage can help you contextualize the benefits your parent and even you received in the transaction. It can be painful to realize you will not receive something you believed you would, but perhaps even more painful is imagining what your parents’ and your life might have been like if it had not been available.

What Happens After the Last Borrower’s Death

Once the last borrower on a reverse mortgage dies, the loan becomes due and payable. This sounds very harsh and final, but it does not mean heirs are required to come up with the money immediately or at all. It does, however, set in motion a chain of actions that will lead to the termination of the loan.

Heirs have up to 12 months to repay the loan balance from the date of the borrower’s death. In certain cases, an extension may be granted. Still, it is usually in your best interest to pay the loan back as soon as possible because interest continues to accrue on the balance until the loan has been paid. Any additional equity still in the home will be diminished the longer the heirs avoid taking action.

One of the first actions to take when heirs learn about a reverse mortgage is to contact the loan servicer to inform them of the last borrower’s passing. The heirs should give the loan servicer the will and any court documents giving them authority to deal with the home. After providing this documentation, heirs can also request an estimated payoff to determine the amount of equity remaining in the home.

A Reverse Mortgage Timeline

The following timeline is what heirs can expect after a reverse mortgage comes due.

30 days. The lender will send a due and payable notice to the estate within 30 days of receiving a notice of death. This notice will contain information on how heirs can proceed and the eligibility requirements of any extension periods. The wording of this letter may seem harsh, but lenders are required to follow specific FHA guidelines and verbiage.
60 days. Heirs must obtain an appraisal of the home no later than 30 days after the due and payable notice is sent. An appraisal is not required if the home is sold and the loan is paid in full. There is also flexibility on this timeline if heirs provide evidence that the home is listed to be sold.
2 – 6 months. A decision needs to be made about selling the home, or how the heirs will satisfy the loan requirements.
6 months. Lenders may start foreclosure on the home if no actions have been taken to repay the loan. Again, this is in the case that heirs have not contacted the servicer, or otherwise made their intentions for the loan clear.

Regardless of where they are in the decision-making process, it is a good idea to maintain constant communication with the servicer. If children or heirs are not making any attempt to sell the property or repay the loan and haven’t requested an extension, FHA guidelines require the servicer to foreclose on the home.

Debbie Cooley-Guy is an excellent resource for any of your mortgage needs from the first-time home buyer to the last mortgage of a lifetime. Call Debbie @ 727-688-2851

for a free consultation.

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

#reversemortgage #seniorliving #Financialfreedom #aginginplace #equityrelease #independentliving

The post Guide to Reverse Mortgage for Children and their heirs first appeared on Debbie Cooley Mortgage.

The Florida Hometown Heroes Housing Program

Debra Cooley-Guy — Thu, 23 Feb 2023 18:10:31 +0000

The Florida Hometown Heroes Housing Program through the Florida Housing Finance Corporation helps make homeownership more affordable for eligible front-line workers such as law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans.

The program provides down payment and closing cost assistance to first-time, income-qualified homebuyers in an eligible occupation to assist them in the purchase of a primary residence.

WHAT IS IT?

Florida Hometown Heroes allows borrowers to receive up to 5% of the loan amount (capped at $25,000) in down payment and closing cost assistance
- Can be paired with additional assistance programs to maximize the amount of received assistance
Down payment and closing cost assistance is available in the form of a 0% interest, non-amortizing,
30-year repayable second mortgage. This second mortgage becomes due and payable in full upon the sale of the property, refinancing of the first mortgage, transfer of a deed, or if the homeowner no longer occupies the property as their primary residence. The Florida Hometown Heroes loan is not forgivable.
The down payment and closing cost assistance can be used to satisfy the following:
- Borrower’s down payment
- Any down payment exceeding the minimum borrower requirement
- Reasonable and customary closing cost.

30-year repayable second mortgage. This second mortgage becomes due and payable in full upon the sale of the property, refinancing of the first mortgage, transfer of deed, or if the homeowner no longer occupies the property as their primary residence. The Florida Hometown Heroes loan is not forgivable.

The down payment and closing cost assistance can be used to satisfy the following:
- Borrower’s down payment
- Any down payment exceeding the minimum borrower requirement
- Reasonable and customary closing costs

Florida’s Hometown Heroes program is a state-wide initiative that recognizes and celebrates the exceptional work of first responders, law enforcement officers, and other essential workers who have gone above and beyond their call of duty to serve their communities. These individuals have displayed courage, dedication, and selflessness in their respective fields and have made a significant impact on the lives of the people they serve.

The program was launched in 2020 by Governor Ron DeSantis in response to the COVID-19 pandemic. The governor recognized that essential workers were risking their lives to keep Floridians safe and healthy, and he wanted to show his appreciation and support for their efforts.

This is exciting news for Hometown Heros in Florida call Debbie Cooley Guy with Innovative Mortgage for more information

727-688-2851 or email Debbie@debbieCooleyMortgage.co

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

The post The Florida Hometown Heroes Housing Program first appeared on Debbie Cooley Mortgage.

Banks vs. Mortgage Brokers: Why a Mortgage Broker is the Better Choice

Debra Cooley-Guy — Wed, 15 Feb 2023 20:06:32 +0000

When it comes to securing a mortgage, homeowners have two main options: working with a bank or working with a mortgage broker. While both options have their pros and cons, choosing a mortgage broker can provide numerous benefits that make them the better choice for many borrowers.

What is a Mortgage Broker?

A mortgage broker is a professional who works with a variety of lenders to help borrowers find the best mortgage products to meet their financial needs. They have access to a wide range of mortgage products and can help you find the best options available to meet your specific needs.

Benefits of Working with a Mortgage Broker

Access to a Wide Range of Products: Mortgage brokers have access to a wide range of mortgage products from a variety of lenders. This means they can help you find the best options available to meet your financial needs, whether you’re a first-time homebuyer, looking to refinance, or interested in a Reverse Mortgage.
Expertise and Knowledge: Mortgage brokers have the expertise and knowledge needed to navigate the mortgage process and help you find the best solution for your needs. They can answer your questions, provide guidance and support, and help you make informed decisions about your financial future.
Time and Effort Savings: Working with a mortgage broker can save you time and effort in the mortgage process. They can handle all the legwork involved in finding the best mortgage products and submitting your loan application, freeing you up to focus on other things.
Better Rates and Terms: Because mortgage brokers have access to a wide range of products, they can often find better rates and terms than you might be able to find on your own. This can save you money over the life of your mortgage.

Banks vs. Mortgage Brokers

While banks can be a convenient option for some borrowers, they often have limited options and may not be able to provide the competitive rates and terms available through mortgage brokers. Additionally, banks may not have the expertise and personalized attention that a mortgage broker can provide.

On the other hand, mortgage brokers are dedicated to finding the best mortgage solution to meet your financial needs. They provide personalized guidance and support throughout the process and can help you find the best rates and terms available.

Final Thoughts

When it comes to securing a mortgage, choosing a mortgage broker can provide numerous benefits, including access to a wide range of products, expertise, and knowledge, time and effort savings, and better rates and terms. If you’re in the market for a mortgage, consider working with a mortgage broker like Debbie Cooley at Debbie Cooley Mortgage. Contact her today at 727-688-2851 or visit her website at https://www.debbiecooleymortgage.com/ to learn more.

Debbie Cooley Mortgage | NMLS #836635

Debbie Cooley Guy, Loan Originator NMLS #210817

Equal Housing Lender

#Brokersarebetter #mortgagebroker #betterthanbanks

The post Banks vs. Mortgage Brokers: Why a Mortgage Broker is the Better Choice first appeared on Debbie Cooley Mortgage.

FHA Loan - Debbie Cooley Mortgage

TAKE A SECOND TO BREATH

REVERSE MORTGAGE USED FOR DREAM HOME PURCHASE

WHY MORE FINANCIAL ADVISORS ARE RECOMMENDING REVERSE MORTGAGES

Safer Than Ever

Client Needs Are Changing

4 Ways Financial Advisors Are Using Reverse Mortgages for Their Clients

Fund a Roth-IRA Conversion

Hedge Against Future Risks

Preserve Current Investment Portfolio

Allow Retirees to Age in Place

The Reverse Mortgage Recommendation Catch-22

MONEY FOR FIRST-TIME HOME BUYERS

“5 Ways to Finance Generational Housing: From Traditional Mortgages to Creative Solutions”

SHOULD I WAIT TO BUY A HOUSE?

Your financial situation

The housing market

Your future plans

In closing

Who is a First Time Homebuyer?

Guide to Reverse Mortgage for Children and their heirs

Why Did Your Parents Take a Reverse Mortgage?

What Happens After the Last Borrower’s Death

A Reverse Mortgage Timeline

The Florida Hometown Heroes Housing Program

WHAT IS IT?

Florida Hometown Heroes allows borrowers to receive up to 5% of the loan amount (capped at $25,000) in down payment and closing cost assistance

Banks vs. Mortgage Brokers: Why a Mortgage Broker is the Better Choice

What is a Mortgage Broker?

Benefits of Working with a Mortgage Broker

Banks vs. Mortgage Brokers

Final Thoughts