A reverse mortgage, also known as a home equity conversion mortgage (HECM), is a unique loan that offers a distinct advantage to Arizona homeowners age 62 and older.
Allow you to access your home equity without selling your home, providing a flexible financial solution.
With a reverse mortgage, you gain control over your financial future. This unique arrangement offers financial freedom and control that traditional mortgages can’t match. The lender pays you, and the loan is repaid when you pass away, move out, or sell the home.
Unlike traditional mortgages, you receive funds from the lender, not vice versa. HECM (Home Equity Conversion Mortgages), the most common type of reverse loan, offers a range of flexible options – a lump sum, fixed monthly payments, or a line of credit. Rates are competitive, and FHA insures HECMs for added protection, ensuring your financial security and peace of mind.
Peoples Mortgage, a trusted provider of reverse mortgage solutions, is here to help you navigate your options in Arizona. With their unparalleled expertise and genuine care, the Toenjes Team will guide you through the process, ensuring you understand all the details and make the best decision for your financial future.
Give us a call at (480) 237-8144 or use the form below to get started.
Get started today by contacting Justin Toenjes or feel free to ask us questions about the loan process.
Get started today with the Toenjes Team at Peoples Mortgage by scheduling an appointment.
Work with one of the best loan officers in the Phoenix metropolitan area and experience the most efficient loan process available.
We work hard to find the best loan to fit your personal needs, plus coordinate with you and your Realtor to make the mortgage process as simple as possible.
Allows homeowners aged 62+ to convert home equity into cash; qualifications include equity and age requirements.
Lenders directly provide loans, while brokers act as intermediaries connecting borrowers with lenders.
A loan exceeding conforming loan limits set by Fannie Mae and Freddie Mac; typically for high-value properties.
Fed policies influence interest rates, impacting mortgage rates; lowering rates can lead to cheaper mortgages.
Contact your servicer immediately to discuss options such as loan modification, forbearance, or refinancing.
Option to pay upfront to lower interest rates, each point typically costing 1% of the loan amount.
LO Licensing: Justin Toenjes, AZ LO-0912116 CA-DFPI167048 CO-100032832 FL-LO118111 ID-MLO-2080167048 NV-68467 TX NMLS-167048
Peoples Mortgage – 2055 E Centennial Cir, Tempe, AZ. 85284
LO Licensing: Kathi Alosi, AZ LO-0914249 NMLS-259189
Peoples Mortgage – 11201 N Tatum Blvd, Suite 140, Phoenix, AZ 85028
Company Licensing: Peoples Mortgage Company, A DBA of Moria Development, Inc. AZ 0904164 California – RMLA4130661, Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act : www.peoplesmortgage.com/privacy-policy CO, Regulated by the Division of Real Estate FL-MLD1223 ID – MBL-2080006274 NV-4200 TX peoplesmortgage.com/license NMLS-6274
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