Reverse Mortgages
What is a Reverse Mortgage?
A reverse mortgage is a unique loan product that allows homeowners, ages 62 and older, to convert a portion of their home equity into cash. While the senior remains in their home, there are no required mortgage payments. Conversely, the lender makes payments to the senior! The cash can be used for monthly living expenses, medical costs, or to simply add to a nest egg. The senior is still responsible for taxes, insurance, home maintenance and any homeowners’ association fees, but that’s it.
Meet our Team
Curt Larson
HECM Loan Specialist
Office: 602-717-9698
Cell: 406-405-0079
Location: Scottsdale, AZ
Email: [email protected]
NMLS ID: 207559
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Steve Wolf
Green Valley Branch Manager / Reverse Mortgage Specialist
Office: 520-975-1900
Location: Green Valley and Tucson, AZ
Email: [email protected]
NMLS ID: 157993
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Julie Diamond
Reverse Mortgage Specialist
Cell: 206-999-1767
Location: Scottsdale, AZ
Email: [email protected]
NMLS ID: 2076119
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Tim Nelson
Reverse Mortgage Department Manager / Certified Reverse Mortgage Professional
Office: 602-319-9040
Location: Scottsdale, AZ
Email: [email protected]
NMLS ID: 403857
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Chris Lyding
Loan Officer/ Reverse Mortgage Specialist
Cell: 602-882-5510
Location: Scottsdale, AZ
Email: [email protected]
NMLS ID: 2041808
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Paul Gubin
Reverse Mortgage Specialist
Location: Scottsdale, AZ
Email: [email protected]
NMLS ID: 213507
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Bill Binkey
HECM Loan Specialist
Office: 928-237-9599
Location: Prescott, AZ
Email: [email protected]
NMLS ID: 214866
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Brittney Bailey
LO Reverse Mortgage Specialist
Cell: (720) 394-6892
Location: Colorado Springs, CO
Email: [email protected]
NMLS ID: 2254099
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Mary Nelson
HECM Loan Specialist / Certified Reverse Mortgage Professional
Office: 623-221-8344
Location: Scottsdale, AZ
Email: [email protected]
NMLS ID: 1706720
Reverse Mortgage Requirements
Reverse Mortgages can be used to purchase a primary residence
Reverse Mortgages are for primary residences only
At least one borrower must be 62 years of age or older
Borrowers must be able to pay taxes, insurance and HOA (if applicable)
Borrowers can own their home outright or have a low balance on the mortgage that can be paid off at closing with proceeds from the loan
Reverse Mortgage Benefits
No FICO qualification
No debt-to-income ratios
Borrowers aren’t restricted on how to use the loan proceeds and it is non-taxable funds
A reverse purchase can help a borrower retain their savings, improve their monthly cash flow, and / or finance a purchase that would normally be beyond their budget
Helps borrowers age in place
Check out our Reverse Mortgage eBook
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V.I.P. Mortgage, Inc. Reverse Mortgage Department is a member of the National Reverse Mortgage Lenders Association and the Better Business Bureau
