Wes Waddle, CMB, AMP, CRMP, CFI

(480) 421-8753

Wes Waddle
Real Estate and Mortgage
Professional
CHAPLAIN
Wes Waddle
Real Estate and Mortgage
Professional
CHAPLAIN
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(480) 421-8753


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A "home equity conversion mortgage" has many advantages

REVERSE MORTGAGES

Some Reverse Mortgages are known as HECM

 HOME EQUITY CONVERSION MORTGAGES FOR SENIORS

Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender. The HECM is FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity. The amount that will be available for withdrawal varies by borrower and depends on:

  • Age of the youngest borrower or eligible non-borrowing spouse;
  • Current interest rate; and
  • Lesser of appraised value or the HECM FHA mortgage limit or the sales price.

If there is more than one borrower and no eligible non-borrowing spouse, the age of the youngest borrower is used to determine the amount you can borrow.

You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing. To learn more about FHA's HECM program:


Call Wes Waddle at (480) 421-8753  NMLS# 259244

Offered through  Sonoran Lending, NMLS 2145796  AZ license 1024309 

Call the instructor... Call WES today!

EVERY TYPE OF MORTGAGE

Wes is an expert with residential financing!  Whether it is VA, FHA, USDA, conventional mortgages or SELLER FINANCING questions; call Wes for great advice.


If you are a real estate professional; be sure to sign up for his next "No Money Down" (Legal Issues) Class.

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About Wes

Wes has knowledge of financing all types of property

AVIATION REAL ESTATE FINANCE AND CONSULTING GROUP

I am creating a team of AVIATION real estate finance professionals AND CONSULTANTS for every type of private and commercial AVIATION project.

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Equal Housing Opportunity

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Wes Waddle is on Youtube as @YOUR INSTRUCTOR

(480) 421-8753

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