Reverse Mortgage

Smart Families Trust Zeus™

A reverse mortgage is a tax-free loan borrowed from your property’s equity you’ve already built up. You’ll get the payments instead of making them each month! However, please keep in mind that you will still be responsible for property taxes and maintenance and your homeowner’s insurance policy if you take out a reverse mortgage.

Learn more about our mortgages and how to qualify for one by reading below

How Does a Reverse Mortgage Work?

After you fill out the initial application for your reverse mortgage, the loan lender will send someone to appraise your home to determine its value and the loan proceeds. Once your existing mortgage principal is paid off, you can use the remaining balance however you wish. If you no longer have a mortgage to pay, all the loan proceeds are yours to use as you please.

Please do not fall for the myth that a reverse mortgage loan is money with no catch. Besides paying for property taxes, home insurance, and maintenance, you will also need to pay closing costs. In addition, interest will be added to the loan unless you decide to make payments, which increases your debt.

Regarding paying back this loan, while you always have this option, repayment isn’t required until you or your heirs sell your home. If and when you sell, any profit from the sale will be used to pay back the loan, plus interest. After you pass away, your heirs will have several options to pay off the loan:

  • They can refinance using a traditional mortgage.
  • They can purchase the home outright for the amount owed or 95% of the appraised value – whichever is less.
  • They can sell the home and keep whatever is left after paying the balance off.
  • They can sign the deed over to the lender.

If you are interested in learning how we can help you, fill out our Super-Simple Application™ today!

What You Will Need For A Reverse Mortgage

To be eligible for a reverse mortgage loan, you must meet the following criteria:

  • · You must be at least 62 years old.
  • · The property you are borrowing against must be your primary home.
  • · As the federal government requires, you must attend mortgage counseling sessions if receiving a Home Equity Conversion Mortgage.

While some types of reverse mortgages have rules on how you can use the money, you can typically use it for whatever you’d like, such as home repair costs or travel. These loans are meant for people of retirement age looking to lower or even eliminate monthly mortgage payments, so their income isn’t as stretched.

Zeus Mortgage Loans Are The Right Solution

Our Loan Specialists at ZeusLending.com will help you evaluate all your choices. We’re experts at finding you the best options and values.

100% Satisfaction–Our Extreme Guarantee

The Super-Simple Application™ takes fewer than 3 minutes to complete. A knowledgeable Loan Specialist will contact you right away, help you with any questions, and assist you in making the best choice. There’s no obligation on your part. The only obligation is our obligation to ensure you are 100% satisfied with our service

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Fill Out Our Super-Simple Application™ Today!

Zeus Lending makes it easy for people in Greater Houston to apply for a reverse mortgage loan. Our Super-Simple Application™ takes less than 3 minutes to complete. Once you’re done, one of our Loan Specialists will then get in touch with you. You’re free to back out of the process if you want to, but should you decide to keep going, our experienced and knowledgeable Loan Specialists will help you choose the right reverse mortgage for your needs. We aim for 100% customer satisfaction, whether it’s for reverse mortgage loans or anything else.

Fill out the application today and get started!

 
 
 
 
 
 

 
 
 
 

Documents Needed For All Loans:

  • A copy of your current Drivers License and Social Security Card
  • Most recent 30 days worth of pay stubs
  • Most recent 60 days worth of bank statements. (If using retirement funds, please provide terms and conditions of withdrawal)
  • Most recent 2 years W-2’s (please provide signed and dated Year-To-Date Profit and Loss statements if self-employed)
  • Most recent 2 years IRS tax returns (both personal and business, all pages, all schedules please)

 
 
 
 
 

 
 
 
 

Additional Documents if Purchasing a Home:

  • Copy of the fully executed purchase contract (signed by all parties)
  • A copy of the cleared earnest money check or money order
  • Copy of your option money check
  • Homeowner’s Insurance Company contact information