Specialty loans to fit the needs of our customers.
A home equity line of credit (HELOC) is a second mortgage with a line of credit that allows you to borrow against the equity in your home. Similar to a credit card, you use the available funds from a home equity loan as needed.
An FHA-insured reverse mortgage is a loan for senior borrowers allowing access to the equity in their home without any required mortgage payments by using their home as security for the loan. Interest and fees are added to the loan balance over time. Borrowers must continue to pay property taxes and insurance while upholding the terms of the loan. The loan is repaid when the borrower permanently leaves the home or if the terms of the loan are not upheld. FHA-insured HECM Reverse mortgages are non-recourse loans which means the borrower or the borrower’s estate cannot owe more than the value of the property.
A bridge loan is a solution for move-up buyers who are in need of financing for their next home before selling their current home.
1Approval may require verification of income, assets, credit, and property value. Additional terms, conditions, and restrictions apply. Consult a tax adviser for information regarding the deductibility of mortgage interest and charges.
2To be eligible for a reverse mortgage must be 62 years old or older. Borrower must occupy the home as their primary residence and must either own the property outright or have considerable equity in the property. Borrower is responsible for property taxes, insurance, HOA/condo fees, and home maintenance. Other fees apply, including and not limited to origination fees, closing costs and mortgage insurance premiums. Other terms and conditions will apply, including and not limited to property requirements. Payment plan options are dependent on the type of reverse mortgage you select. Not all applicants will qualify. These marketing materials are provided by Evergreen Home Loans and are not provided or approved by HUD or FHA. Re¬verse mortgage proceeds may affect Medicaid and Supplemental Security Income (SSI) benefits. Consult with a financial advisor to see if a reverse mortgage is a good option for you.
3Initial term 120 days; up to two 30-day extensions allowed for a maximum 6-month term. Borrower must qualify for a fixed rate non-owner refi in the event the subject property does not sell within 6 months. Available in AZ, CA, CO, ID, NV, OR, and WA. Additional terms, conditions and restrictions apply.