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Washington Reverse Mortgages

Secure the best reverse mortgage loan options in Washington with Angella Conrard, CRMP

When considering a Washington reverse mortgage, Angella Conrard can help you. Angella has been assisting retirees in navigating the reverse mortgage process for 16 years. She holds the highest level of education and certification available to reverse mortgage loan officers – Certified Reverse Mortgage Professional – or CRMP.

Angella works for C2 Financial Corporation because she likes the variety and availability of loan products. C2 Financial has over 100 wholesale relationships. Unlike many brokerages, C2 works with more lenders and offers Angella the ability to make custom recommendations to her clients seeking a reverse mortgage in Washington. Additionally, C2 is an award-winning mortgage company recognized by the industry as a top leader and is rated A+ by the Better Business Bureau (BBB).

When you work with Angella, you'll discover she is not about selling you a reverse mortgage. Instead, her goal is to educate and guide you through the process. As a lifetime "helper," Angella has a history of helping others, whether through a reverse mortgage or as lifelong wellness professional.

What is a Washington Reverse Mortgage?

The reverse mortgage loan program is for seniors 62 and older with enough home equity to monetize and access the funds without paying a monthly mortgage. As an approved borrower, you have several choices about how you receive the payout from the reverse mortgage. You can choose from a line of credit, cash out, term (monthly payments for a specified period), tenure (monthly payments for a lifetime), or a combination of the above. Some people opt first to pay off their traditional mortgage and then establish a line of credit to be used when needed.

You are not limited in how you spend the funds received from a Washington reverse mortgage. Some people utilize it to modify a current home for better mobility or to pay for in-home care as they age in place. Others supplement their retirement funds to travel or do what they wish during retirement.

The loan is due to be paid when a maturity event occurs, such as you move, sell, or pass away. At that time, the loan must be repaid. Some choose to sell the home, while others refinance it and first pay the loan. After the loan is repaid, the remaining proceeds go to you or your estate. Standard reverse mortgages are FHA insured and considered "non-recourse," which means you never owe more than the home’s value when the loan is due.

Borrowers must abide by the loan terms, which include maintaining the property, keeping property taxes and insurance current, and living in the home as your primary residence.

About Washington

Washington sits at the Northwest tip of the United States and borders Canada, Idaho, and Oregon. As the only state named after a president, it was admitted to the union as the 42nd state in 1889.

The population of Washington is 7,901,429, with Seattle (762,687) being the largest metropolitan area, followed by Spokane (233,003) and Tacoma (223,003). The median home price in Washington is $640,494. Today, 3194 Washington residents use a reverse mortgage in their golden years.

Washington is known as the "Evergreen State." It has six geographic land areas: the Olympic Mountains, the Puget Sound Lowlands, the Cascade Mountains, the Columbia Plateau, the Rocky Mountains, and the Coast Range. Mount Rainier is the highest state elevation in the Cascade Range, the fifth highest peak in the US. It is also home to Mt. St. Helens, an active volcano that erupted in 1980.

Known for agriculture, forestry, and fishing, Washington markets more apples than any other state and is one of the country's largest wine producers. It is also home to many manufacturing, aeronautics, and electronics companies, the most notable being Amazon, Microsoft, and Boeing in the Seattle area.

Contact your Washington Reverse Mortgage Specialist.

If you're ready to consider a Washington reverse mortgage, contact Angella Conrard at: (949) 439-7030.

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