For almost every borrower, it is easy to structure the transaction with no closing costs paid by the borrower or added to the loan. It takes only a few minutes to explain how most lenders would rather keep the hidden profit for themselves rather than pay your closing costs.
As a CPA with 30 years of mortgage and financial consulting experience, I have unparalleled skills to assess your situation and advise you on your options and the related pros and cons. Because of my low overhead, my fee is usual LESS THAN 50% of the big guys and I have never seen any competitor with lower fees & rates.
This Reverse Mortgage Calculator has been designed to help take the guess work out of your Reverse Mortgage research.
The hidden commission to the loan officer or his company can be $15,000+ per transactions. Rather than keep it for myself, I use those funds to pay your closing costs whenever available.
There are countless reverse mortgage websites that generally rehash the same information. This website is not like any of those.
Rather than tell you what you likely already know, we will tell you the information you need to know. Any mortgage, but especially a reverse mortgage, is a very big deal. It is intended to last a lifetime. We encourage all of our clients to involve their attorney, children or other trusted advisors in the decision-making process.
Our goal is to give you the pros and cons so you can be more informed and thoughtful in your evaluation, not steer you to a decision that is in our best interest. In fact, a reverse mortgage is often not the best alternative for many clients we speak with.
This information contained herein is, at best, a starting point for additional discussions and analysis. For some, we expect it to be enough “bad news” to persuade you to seek other alternatives. Remember, we are happy to help you weigh those other options. Our goal is to highlight critical information that is often hidden from the borrower or buried in the stacks of disclosures forced on the clients by the regulations.
I encourage you to call us to help sort out all the variables in the decision making process. We freely share our expertise with you or your representative. We are direct and expect nothing in return. At a minimum, you will be armed with some knowledge to better evaluate others.
Thank you for your time.
Dennis M. Sanchez, CPA