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Financing House Purchase or Construction
Refinancing a Mortgage
Obtaining a Reverse Mortgage
What Makes a Certified Network Lender?
How to Qualify For a Mortgage
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Tutorials
Choosing Between ARMs and FRMs
Selecting Among Different FRMs
Selecting Among Different ARMs
Libor ARMs
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How Large a Down Payment to Make
Whether to Waive Escrow
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Questions and Answers about HECMs
Shop Using the Kosher Reverse Mortgage Calculator
Download a Spreadsheet to Assess Whether
a HECM Should be Modified or Refinanced
Learn How the Kosher Reverse HECM Mortage is Different
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About the Professor
Step 1: How You Plan to Use Your Reverse Mortgage
Make a Selection that Best Describes Your Plans for Your Reverse Mortgage
Tenure Payment:
You want the largest possible monthly payment for as long as you live in your house.
Term Payment:
You want the largest possible payment for a period of
1 year
2 years
3 years
4 years
5 years
6 years
7 years
8 years
9 years
10 years
11 years
12 years
13 years
14 years
15 years
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25 years
26 years
27 years
28 years
29 years
30 years
31 years
32 years
33 years
34 years
35 years
36 years
37 years
38 years
39 years
40 years
Credit Line:
You want the largest possible credit line that can generate additional future income and/or protect against future hazards.
Cash Now:
You want to access as much cash as possible right now to meet an immediate need, such as paying off short-term debt.*
Combination:
You want any combination of monthly income, cash at closing, and credit line.
Purchase a House:
You want the largest possible cash draw for use as down payment for a house purchase.
* Note: The "Cash Now" option is the only use of a reverse mortgage for which a fixed interest rate is permissible. All other uses require an adjustable rate.