Nashville Reverse Mortgage Lender
Welcome to Capital Home Mortgage Nashville, where our mission is to empower Nashville seniors by providing access to a full range of reverse mortgage products and clear and sound financial guidance. We understand that considering a reverse mortgage is a significant decision, and our goal is to help you make an informed choice that best suits your needs.
At Capital Home Mortgage Nashville, we offer dedicated points of contact throughout the reverse mortgage process, ensuring that you have a consistent representative to guide you every step of the way. This personalized approach ensures that all your questions are answered and that you receive the highest level of customer service, making the process as stress-free as possible.
As a direct Nashville Reverse Mortgage Lender, we provide seniors with both refinance and purchase reverse mortgage options, managing the entire lending process from start to finish. With our in-house processing and underwriting, we ensure quick, commonsense approvals and timely closings, giving you peace of mind knowing that every aspect, from application to funding, is handled with the utmost care and professionalism.
Thank you for the opportunity to earn your business. Call today (615) 549-5666 to begin the process or to speak with one of our Nashville Reverse Loan Specialists.
Nashville Reverse Home Mortgages
In Nashville, reverse mortgages function based on the same core principles and regulations as in other states, though specific aspects or considerations may be unique to the Nashville region.
To qualify for a reverse mortgage in Nashville, homeowners must be at least 62 years old and either own their home outright or have a small mortgage balance that can be paid off with the reverse mortgage funds. The property must be the borrower’s primary residence and meet certain criteria set by the Federal Housing Administration (FHA), including a single-family home, a one-to-four-unit property, or an approved condominium or manufactured home.
Before securing a reverse mortgage in Nashville, borrowers must participate in a counselling session with a HUD-approved counsellor. This session is designed to help borrowers grasp the responsibilities and consequences associated with a reverse mortgage. The loan limits for reverse mortgages in Nashville, similar to other states, can fluctuate and are influenced by factors including the borrower’s age, the appraised value of the home, and prevailing interest rates.
A distinctive feature of a Nashville reverse mortgage is that repayment is generally deferred until the borrower ceases to live in the home as their primary residence. Once that occurs, the loan is due, and the borrower or their heirs are responsible for settling the loan amount, typically through the sale of the property or by refinancing.
Like many other states, Nashville has implemented regulations to protect borrowers who obtain reverse mortgages. These regulations typically require lenders to provide clear and accurate information about the loan’s terms, counselling requirements and other protective measures.
The interest rates and fees linked to reverse mortgages in Nashville can differ based on the type of reverse mortgage and the particular conditions of the loan.
Anyone thinking about a reverse mortgage in Nashville should take the time to explore their options, grasp the loan’s terms and conditions, and seek advice from a financial advisor or a Nashville Reverse Specialist to confirm that it aligns with their financial needs.
Borrowers must also consider how their actions might affect their eligibility for government assistance programs like Medicaid or Supplemental Security Income (SSI).
Nashville Reverse Mortgages
Life after retirement can present its own set of challenges, especially when you hit the senior milestone of 62 years in Nashville. This marks the beginning of what could be the longest vacation of your life. You’ll no longer have to face the Monday morning grind or relish the excitement of Friday evenings at work. You are officially retired. Yet, this new chapter also brings the reality of a restricted income. Although you might have insurance, pensions, and investments, they may not suffice. Fortunately, there is an option to secure extra funds through a Nashville Reverse Mortgage.
A Nashville Reverse Mortgage is a financial program that allows homeowners to convert their home equity into a lump sum of cash. In this arrangement, the homeowner relinquishes a portion of their equity while retaining ownership and residency in the property as their primary home. This type of mortgage is designed to offer eligible seniors a reliable source of income during their retirement years.
This mortgage program offers an excellent opportunity to unlock the value of your investment. Homes continue to be valuable assets, yet many homeowners struggle to access that value because they are unable to sell. Reverse mortgages allow you to tap into your home’s equity, providing you with funds while still living in your property. The loan is due when the homeowner sells or leaves the home, or sooner if certain conditions arise, such as not paying property taxes, homeowners insurance, or failing to maintain the property.
Capital Home Mortgage Nashville offers reverse mortgages in Nashville. Call (615) 549-5666 to speak with our Nashville Reverse Specialists and discover if a reverse is right for you.
Nashville Reverse Home Loans
Reverse Mortgage Loans offers Nashville 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
Nashville HOME EQUITY CONVERSION Mortgages
Nashville Home Equity Conversion Mortgages
The Nashville Home Equity Conversion Mortgage (HECM) stands out as the most common type of reverse mortgage due to its lack of restrictions. This means that seniors can utilize the funds however they choose, allowing them to tap into a portion of their home’s equity. Borrowers have the flexibility to receive cash in a fixed monthly payment, access a line of credit, or combine both options. Additionally, a HECM can be employed to buy the borrower’s primary residence. This mortgage is insured and overseen by the U.S. Department of Housing and Urban Development (HUD) and falls under the Federal Housing Administration (FHA).
Advantages of a HECM
- No credit score requirements
- Tax-exempt
- No monthly loan payments are due. Owner Still Responsible for Property Taxes, Insurance, Property Related Charges
- Lenient income requirements
- The ability to obtain funds based on their home equity
- Depending on their preferences, homeowners can get cash through a line of credit, modified tenure, etc
Dis-Advantages of a HECM
- Property must be their primary residence for most of the year
- Must repay the HECM if they sell the home or relocate
Nashville Proprietary Reverse Mortgage
Nashville Proprietary Reverse Mortgage
The Nashville Home Equity Conversion Mortgage (HECM) stands out as the most common type of reverse mortgage due to its lack of restrictions. This flexibility allows seniors to utilize the funds however they choose, tapping into a portion of their home’s equity. Borrowers can receive cash through a fixed monthly payment, a line of credit, or a combination of both options. Additionally, a HECM can be employed to buy the borrower’s primary residence. This mortgage is insured and regulated by the U.S. Department of Housing and Urban Development (HUD) and falls under the Federal Housing Administration (FHA).
Advantages of a Proprietary Reverse Mortgage
- Homeowners can use the money from their home equity for anything they want.
- Possible to get more money than with reverse mortgages insured by the government.
Nashville Single Purpose Reverse Mortgage
Nashville Single Purpose Reverse Mortgage
The Nashville Single-Purpose Reverse Mortgage is a financing option supported by government or non-profit organizations, designed to help homeowners tap into their home equity for a designated purpose. This type of reverse mortgage involves a contract between a lender and a borrower, where the lender provides funds to the borrower in return for a share of the borrower’s home equity. The funds received must be allocated for a specific use that has been authorized by the lender and outlined in the loan agreement.
Advantages of a Single-Purpose Reverse Mortgage:
- Eliminating traditional mortgage payments and accessing home equity while still owning and living in the home.
- Modifying an asset that would otherwise be hard to sell into cash that can be used to pay bills in retirement
Disadvantages of Single-Purpose Reverse Mortgages:
- As time goes on, the amount owed to the lender on the loan balance goes up. The home equity decreases as interest and fees are added to the loan balance each month.
- With a single-purpose reverse mortgage, the money can only be used for the purpose approved and written into the loan. This limits how the funds can be used.
Why nashville is 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
Nashville Mortgage Company Reviews
Nashville Mortgage Team
Nashville Mortgage Programs
Nashville Purchase loans
Looking to Purchase a Nashville Home?
- Primary, 2nd Home, Investment
- Low Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Nashville Renovation Home Loans
Looking to Rehab a Nashville Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
Nashville FHA Home loans
Great 1st Time Nashville Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
Nashville va Home Loans
100% Financing for Nashville Vets
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Nashville Conventional Home loans
Flexibility for Nashville Homebuyers
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
Nashville Jumbo Home Loans
Nashville Non-Confirming Home Loans
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
Nashville USDA Home loans
100% Nashville Rural Home Loans
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Nashville Native american Loans
Nashville Hud 184 Home Loans
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Nashville Manufactured Home loans
Great Nashville Alternative Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Nashville Reverse Mortgage Loans
Your Nashville Home at Work
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Nashville Non QM Home loans
Making Nashville Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
Nashville One Time Close Home Loans
Build Your Nashville Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Nashville Refinance Mortgage loans
Nashville Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Nashville Cashout Mortgage Loans
Nashville Equity Mortgage Loans
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education
