Capital Home Mortgage Brownsville

Brownsville Reverse Mortgage Loans

Brownsville Reverse Mortgage Lender

Brownsville Reverse Mortgage

A reverse mortgage may be an excellent option if you are 62 or older and need money to pay off your mortgage, supplement your income, or cover healthcare costs. This type of mortgage allows qualified borrowers to convert a portion of their home’s equity into cash without having to sell it or incur additional monthly expenses.

Reverse mortgages, however, can be complicated and may not be suitable for you. Learn as much as you can about it first before taking the plunge.

What is a Reverse Mortgage?

A reverse mortgage is a type of loan used by homeowners over the age of 62 and with significant equity in their homes. Borrowing against their home’s equity allows seniors access to funds for cost-of-living expenses later in life, often after they have exhausted all other savings or sources of income.

A regular mortgage requires paying the lender monthly to own your home over time. In a reverse mortgage, you receive a loan from the lender and are not required to repay the money for as long as you reside in your home.

Don’t be mistaken; reverse mortgages are not “free money.” When the principal borrower moves out of the house or dies, the loan must be repaid, including the interest and fees added to the balance each month. The homeowners or their heirs often repay the loan by selling the home.

3 Types Of Brownsville Reverse Mortgage

When deciding if a reverse mortgage is ideal for you, also evaluate which of the three types best meets your needs. The three types of reverse mortgages are:

     1. Single-Purpose Reverse Mortgage

Single-purpose reverse mortgages are loans provided by nonprofits and state and local governments for specific purposes specified by the lender, such as repair or improvement. They are the least expensive of the three but only available in certain areas.

     2. Home Equity Conversion Mortgage

The federal government guarantees Home Equity Conversion Mortgage (HECM) through the U.S. Department of Housing and Urban Development (HUD). They are typically more expensive than traditional mortgages, but the loan funds can be used for almost anything. Borrowers can receive their funds in various ways — in a lump sum, fixed monthly payments, a line of credit, or a combination of regular payments and a line of credit.

     3. Proprietary Reverse Mortgage

A government agency does not back proprietary reverse mortgages. The lenders establish their eligibility criteria, rates, fees, terms, and underwriting procedures. While these loans are the easiest to obtain and the quickest to fund, they are also frequently targeted by unscrupulous professionals who use reverse mortgages to scam unsuspecting seniors out of the equity in their homes.

Brownsville Reverse Mortgage Loan Requirements

The following are the basic eligibility and qualification requirements for a reverse mortgage loan:

  • The primary homeowner must be 62 or older.
  • The borrower must own the property or have paid a significant portion of the mortgage.
  • The house must be used as the primary residence.
  • The homeowner is not a delinquent of any federal debt.
  • The homeowner must continue paying property taxes, homeowners insurance, and homeowners association dues.
  • The borrower must attend an information session facilitated by a HUD-certified reverse mortgage counselor.

Benefits Of Reverse Mortgage in Brownsville

Borrowing against your home equity can free up much-needed cash for living expenses. Still, the mortgage insurance premium, as well as the origination and servicing fees, can quickly add up. Let’s look at some of a reverse mortgage’s most notable benefits and drawbacks.


  • No need to make monthly payments.
  • Access to funds can help make retirement more enjoyable.
  • Proceeds can be used for various expenses.
  • Funds can be used to pay off existing mortgages and stop foreclosure.


  • Borrowers must maintain the property and pay property taxes and home insurance.
  • High fees and closing costs can lower the amount of available cash.

Is Reverse Mortgage Good For You?

A reverse mortgage can help homeowners looking for additional income during their retirement years. By borrowing against their equity, seniors can access cash and live comfortably. However, the opposite can also happen.

If a reverse mortgage sounds like a good idea for you, get in touch with Capital Home Mortgage and apply for a Brownsville Reverse Mortgage today! For those not sold on the idea of taking out a reverse mortgage, that’s okay! We can help you explore suitable alternatives instead.

Have you got questions? Need expert advice? Feel free to contact us at (956) 307-3422. We’d be more than happy to help!

Why Brownsville HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Brownsville Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Brownsville REverse Home Loans

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • Purchase & Refinance
  • Primary Only
  • 62 Years or Older
  • Required Hud Counseling
  • Homeowners Insurance Required
  • Must Continue to Pay Taxes
  • Meet Required Equity Values
Texas Mortgage Programs

Texas Home Purchase

Thinking of Buying a Texas Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Texas renovation home loans

Looking to Rehab a Texas Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Texas FHA Home Loans

Great for 1st Time Texas Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Texas VA Home Loans

100% Financing for Texas Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Texas Conventional Home Loans

Flexibility for Texas Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Texas Jumbo Home Loans

Texas Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Texas USDA Home Loans

100% Rural Texas Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Texas Native American Home Loans

Texas HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Texas Manufactured Home Loans

Great Alternative Texas Housing

Texas reverse mortgages

Your Texas Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Texas Non QM Home Loans

Making Texas Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Texas One Time Close mortgages

Build Your Texas Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Texas Refinance Mortgage Loans

Texas Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Texas Cash-out Home mortgages

Texas Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Brownsville Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Brownsville Mortgage Company Reviews

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