Las Vegas Reverse Mortgage | Mortgage Services
Coupons for Las Vegas Reverse Mortgage
A reverse mortgage is a useful tool to allow Senior Citizens to live financially independent in their own home. By using the equity in your home, you can receive a lump sum of funds, payments ongoing for the rest of your life, a line of credit or a combination of any of these. A borrower can use the equity in their home as a safe and more viable retirement tool.
When I pull credit to find your loan program, we only need to pull it once to get quotes from all our approved lenders. Should you choose to go through your local bank; they will pull your credit once but only have access to rates and programs within their own walls. If you aren't satisfied with their product or service, or are turned down, you may need to go elsewhere which means your credit will be pulled again. After this process is repeated there is a large problem that occurs. You credit score will decrease. The overall effect with the lower credit score is that you aren't eligible for the same loan programs as before; you will ultimately pay more out of pocket. Bottom line is, go to the source that can take the hassle of shopping the rates for you. Go to a Las Vegas mortgage banker & broker.
To take a look at the basic loan origination process and see how you can get started. Your Mortgage Professional should have access to the economic indicators that impact interest rates at their fingertips. If your mortgage professional doesn't, then you should be looking for one that does. For example, I have a service which provides me hourly updates of what the 30 Yr Bond is doing. This is extremely important for your trusted advisor to be on top of. Your advisor should know that the 30 Yr Bond affects the 30 Yr Fixed Interest Rate. Each day I receive an e-mail update which gives me a snapshot of how the market looks for the mortgage industry & gives me indications on which direction the Federal Reserve Board is headed before their next meeting and whether it's a good idea to lock a rate or float and wait for additional mortgage news. If your advisor isn't staying on top of this, then go somewhere else. Your advisor should know what the 30 Year bond is, how it impacts you and be anticipating the next Federal Reserve Board meeting.