Reverse Mortgage

A FHA reverse mortgage is loan available to home owners or home buyers over 62 years old, enabling them to access a portion of the home's equity. The home owners can draw the mortgage principal in a lump sum, by receiving monthly payments over a specified term or over their (joint) lifetimes, as a revolving line of credit, or some combination thereof. 
The main advantages the Home Equity Conversion Progam or Reverse mortgage is that it allows individuals 62 and older to convert equity in thier home to a lump sum of cash thereby eliminating your mortgage payment and providing you with extra money each month for any bills or other unexpected expenses. 

Homeowners do not need to be in an FHA loan to qualify for this product the only qualification is that homeowners be 62 years or older. What determines how much money you are elgible for is the age of the youngest borrower, how valuable your home is, and how low the interest rate is on your home.  These three seperate factors determine the amount of money you will be able to pull out of your home in addition to eliminating your mortgage payement. No payuments must be made until the last borrower moves out of the house.


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TESTIMONIALS

"Working with Scott has been a truly satisfying experience. He went above and beyond to get us to settle on my refinance and cleared all those hurdles that were in our way. Thank you so much."
Christa Bahre


"Brian, I want to thank you for the wonderful gift! It is so useful and I appreciate it so much. Most importantly, I want to thank you and your staff for the effort you put forth to see that my re-financing went so smoothly. It has given me great peace-of-mind to know that I don';t have to worry about the interest rate going up on my mortgage. Scott was wonderful to work with, so pleasant all the time and eager to answer all my silly questions, not to mention how hard he must have worked to get me the best deal. I would certainly recommend Serenity to anyone interested. Hoping you and your staff have great success in all your endeavors and I';m sure you will."
Marilyn


"Brian and Serenity were great to work with. They not only delivered what they promised, but at the end, our rate was actually lower than they originally quoted. I highly recommend Serenity First Financial and Brian Oates".
Angie J.


"I am SO thrilled about how much money we are saving (nearly $400/month) after refinancing that I';m passing on my neighbor and loan officer's information! Steve is a great guy and he worked with us over the last few months- constantly monitoring home prices in the neighborhood and interest rates to get us the best possible situation. I couldn';t be more pleased!"
Kristin N.


"Thank you so much for all your help and little clip below. Sorry for delay reply. This is a very cute way of letting us know that the loan is clear to close. It is very cleverly expressed. Please note, we are very happy with all your service and promptness of your reply. Thank you so much for keeping us informed on every step of the way...you are such an ASSET to Serenity First Financial LLC. and I am sure your company recognizes that!
Best regards!"
Mahendra and Rameela Patel

"I couldn';t have asked for better service than what I received from your organization. I am so relieved to be free of the ARM mortgage. Scott, you were with me every step of the way, any time I had questions; I really appreciate you."
Marilyn Winstead

 

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