The Reverse Mortgage Division of Alpha Mortgage works with homeowners and home buyers age 62 and older in the States of North Carolina, South Carolina, Florida, and Virginia. Our HECM reverse mortgage program is backed by HUD (The U.S. Department of Housing and Urban Development) and insured by the FHA. Reverse mortgages have been rapidly growing in popularity in recent years and today; hundreds of thousands of homeowners are using reverse mortgages to improve their quality of life for their retirement years.
One of Alpha Mortgage's Reverse Mortgage Professionals can help you determine whether or not you may qualify for HECM reverse mortgage financing and which products best suit your financial goals. Contact us a free consultation. HECM loans are backed by HUD and insured by the FHA. Borrowers must be 62 or older, and either own their homes outright or have a low enough balance that their mortgages can be paid off with a reverse mortgage.
Visit our education center to learn more about qualifying for reverse mortgages, how payments work, the pros and cons of reverse financing, and how these programs can affect your family and give you the financial freedom you're searching for.
One of Alpha Mortgage's Reverse Mortgage Professionals can help you determine whether or not you may qualify for HECM reverse mortgage financing and which products best suit your financial goals. Contact us a free consultation. HECM loans are backed by HUD and insured by the FHA. Borrowers must be 62 or older, and either own their homes outright or have a low enough balance that their mortgages can be paid off with a reverse mortgage.
Visit our education center to learn more about qualifying for reverse mortgages, how payments work, the pros and cons of reverse financing, and how these programs can affect your family and give you the financial freedom you're searching for.
Services
Alpha Mortgage Corporation is a full service mortgage banker with in-house processing, underwriting, closing and funding of your home.
Formed in 1983, Alpha Mortgage has attained its growth and success through the introduction of a continuing series of innovative programs and services that have become standards in the mortgage lending industry.
Today, Alpha Mortgage is home to 30+ licensed loan officers and 100+ total employees.
Formed in 1983, Alpha Mortgage has attained its growth and success through the introduction of a continuing series of innovative programs and services that have become standards in the mortgage lending industry.
Today, Alpha Mortgage is home to 30+ licensed loan officers and 100+ total employees.
The HECM reverse mortgage program is backed by HUD (The U.S. Department of Housing and Urban Development) and insured by the FHA.
To be eligible for a HECM, FHA states that you must be sixty-two years of age or older, and either own your home free-and-clear or have a low enough balance that the loan can be paid off with a reverse mortgage.
Also, you and any co-borrowers must live in the home as your primary residence.
1-4 unit properties, HUD approved condominiums, and a limited number of manufactured homes may qualify if they meet FHA's requirements.
To be eligible for a HECM, FHA states that you must be sixty-two years of age or older, and either own your home free-and-clear or have a low enough balance that the loan can be paid off with a reverse mortgage.
Also, you and any co-borrowers must live in the home as your primary residence.
1-4 unit properties, HUD approved condominiums, and a limited number of manufactured homes may qualify if they meet FHA's requirements.
Reverse mortgage programs have been rapidly growing in popularity in recent years, and today hundreds of thousands of homeowners are using reverse mortgages to improve their quality of life for their retirement years.
After a rough few years in the financial markets, many seniors are now concerned about how they will be able to fulfill their financial obligations, travel, and enjoy their retirement.
Reverse mortgages can help homeowners convert a portion of their equity into an income stream without having to sell their property, give up title, or make monthly mortgage payments for the rest of their lives.
After a rough few years in the financial markets, many seniors are now concerned about how they will be able to fulfill their financial obligations, travel, and enjoy their retirement.
Reverse mortgages can help homeowners convert a portion of their equity into an income stream without having to sell their property, give up title, or make monthly mortgage payments for the rest of their lives.
Here you'll find information and resources on reverse mortgages to better help you make a well informed decision.
Please note that the mortgage industry is constantly changing and some of the specific details found in the various pages may be different today from when the resources were written.
For the most up-to-date information, please contact a Reverse Mortgage Specialist at Alpha Mortgage.
Learn more about how people are using home equity conversion mortgages for purchasing homes:.
Please keep in mind that the reverse mortgage industry in constantly changing and some of the information contained on this site may not be current.
Please note that the mortgage industry is constantly changing and some of the specific details found in the various pages may be different today from when the resources were written.
For the most up-to-date information, please contact a Reverse Mortgage Specialist at Alpha Mortgage.
Learn more about how people are using home equity conversion mortgages for purchasing homes:.
Please keep in mind that the reverse mortgage industry in constantly changing and some of the information contained on this site may not be current.
Principal Limit equals the amount of loan proceeds available from a HECM reverse mortgage before mandatory obligations like closing costs, mortgage payoffs and other liens are deducted.
Disbursement of funds throughout first year of loan subject to HUD policies and restrictions.
Expected Rate may not be equal to the actual loan interest rate, rather is used to calculate the Principal Limit loan amount in accordance with HUD policy.
See footer for more information*.
Payments can be made in one lump sum, on a monthly basis for a specific amount of years, monthly income for life (Tenure Payment) left in a line of credit and grow in value, or a combination of any of these.
Disbursement of funds throughout first year of loan subject to HUD policies and restrictions.
Expected Rate may not be equal to the actual loan interest rate, rather is used to calculate the Principal Limit loan amount in accordance with HUD policy.
See footer for more information*.
Payments can be made in one lump sum, on a monthly basis for a specific amount of years, monthly income for life (Tenure Payment) left in a line of credit and grow in value, or a combination of any of these.
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