Liberty Reverse Mortgage (Liberty) is one of the largest and most experienced reverse mortgage lenders in the country. Liberty was my original lender and I refinanced with them. I had an exceptionally good experience with them. They are outstanding, particularly the loan officer that I dealt with, Daniel. He was conscientious, timely in response, and most importantly, he had integrity.
From the beginning to the end, there were no changes. I wasn't misled and many times, you could be misled. Early on, they provided documents of what the loan would be like, and there was no wavering from it. The entire experience was most satisfying from start to closing. Everything was well explained and the steps needed to get to the final close were well laid out and easy to follow.
Given our circumstances and goals, this was the best solution for us. A reverse mortgage might not be the best solution for everyone, but if you decide that a reverse mortgage fits into your financial goals then Liberty would be the company to use.
From the beginning to the end, there were no changes. I wasn't misled and many times, you could be misled. Early on, they provided documents of what the loan would be like, and there was no wavering from it. The entire experience was most satisfying from start to closing. Everything was well explained and the steps needed to get to the final close were well laid out and easy to follow.
Given our circumstances and goals, this was the best solution for us. A reverse mortgage might not be the best solution for everyone, but if you decide that a reverse mortgage fits into your financial goals then Liberty would be the company to use.
Services
For over decade, Liberty Reverse Mortgage has been committed to helping seniors gain financial freedom and security through Home Equity Conversion Mortgages (HECMs).
Liberty is one of the largest and most experienced HECM lenders in the United States.
We are a direct lender unlike many other HECM loan providers.
Liberty has an A+ Better Business Bureau rating and is a member of the National Reverse Mortgage Lenders Association.
We will provide you with a substantive response to your phone call or mailing, generally within 10 calendar days of receipt.
Liberty is one of the largest and most experienced HECM lenders in the United States.
We are a direct lender unlike many other HECM loan providers.
Liberty has an A+ Better Business Bureau rating and is a member of the National Reverse Mortgage Lenders Association.
We will provide you with a substantive response to your phone call or mailing, generally within 10 calendar days of receipt.
Whether you are planning on retiring soon or have already started retirement, take a moment to think about how you envision your retirement lifestyle.
Even if you have planned, saved and invested carefully, you may have fewer funds than you had expected to meet your goals.
Live in a single family, two-to-four unit owner-occupied home, townhouse, approved condominium or manufactured home.
Once you obtain your HECM loan, you must continue to meet the following conditions to maintain your loan in good standing.
Even if you have planned, saved and invested carefully, you may have fewer funds than you had expected to meet your goals.
Live in a single family, two-to-four unit owner-occupied home, townhouse, approved condominium or manufactured home.
Once you obtain your HECM loan, you must continue to meet the following conditions to maintain your loan in good standing.
You may need to set aside additional funds from the loan proceeds to pay for taxes and insurance.
The difference between the purchase price of the home and the HECM proceeds will be paid in cash from the sale of an existing home or another source of eligible funds.
Gift funds may be an acceptable form of down payment, however certain restrictions may apply.
There must be proof that the homeowner has "eligible funds" from qualifying sources for the closing.
Depending on the source of funds, specific documentation may be required.
The difference between the purchase price of the home and the HECM proceeds will be paid in cash from the sale of an existing home or another source of eligible funds.
Gift funds may be an acceptable form of down payment, however certain restrictions may apply.
There must be proof that the homeowner has "eligible funds" from qualifying sources for the closing.
Depending on the source of funds, specific documentation may be required.
A Home Equity Line of Credit is a revolving loan that is secured by the value of your home with spending limitations similar to that of a credit card.
You may not exceed the maximum credit limit and, similar to a traditional mortgage, you will make monthly payments for a fixed term.
Unlike a Home Equity Line of Credit (HELOC), the HECM does not require the borrower to make monthly mortgage payments and any existing mortgage or mandatory obligations can be paid off using the proceeds from the reverse mortgage loan.
You may not exceed the maximum credit limit and, similar to a traditional mortgage, you will make monthly payments for a fixed term.
Unlike a Home Equity Line of Credit (HELOC), the HECM does not require the borrower to make monthly mortgage payments and any existing mortgage or mandatory obligations can be paid off using the proceeds from the reverse mortgage loan.
With the EquityIQ jumbo reverse mortgage from Liberty, owners of higher value homes may access more funds with lower upfront costs than a traditional Home Equity Conversion Mortgage (HECM).
The EquityIQ jumbo reverse mortgage is a loan that enables senior homeowners to convert a portion of their home's equity into usable funds.
Similar to a traditional reverse mortgage (known as a Home Equity Conversion Mortgage), a jumbo reverse mortgage does not require borrowers to make monthly mortgage payments as long as they meet the terms of their loan including paying property taxes, insurance and home maintenance.
The EquityIQ jumbo reverse mortgage is a loan that enables senior homeowners to convert a portion of their home's equity into usable funds.
Similar to a traditional reverse mortgage (known as a Home Equity Conversion Mortgage), a jumbo reverse mortgage does not require borrowers to make monthly mortgage payments as long as they meet the terms of their loan including paying property taxes, insurance and home maintenance.
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