can I get a reverse mortgage without my condo bldg. being FHA approved?. You do not need to be FHA Approved to get a reverse mortgage.
ADVISER SEARCH: Curious about reverse mortgages? Find a financial adviser today to help you. a reverse mortgage, they’ll no longer own the house, Johnson says. "After they get a reverse mortgage,
If you were asking if you could use a reverse mortgage to purchase the condo, you could if the current. If your home is a condominium, you can get a reverse mortgage on it if it’s on the U.S. department. pay homeowner’s-insurance premiums and property taxes.
Some lenders don’t do them because of the very specific nature of eligibility on manufactured homes, but if you know that the home meets HUD requirements and you’re prepared to pay a little more for an inspection, there is no reason you can’t apply for a reverse mortgage loan for a manufactured home.
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These are things you've been wanting to do for years and years, but, though.. Condo owners should know that their condominium has to be FHA-approved. With a reverse mortgage, you can receive a cash lump sum, monthly annuity.
The Shocking Truth About Condominiums. – All Reverse Mortgage – If you live in a condominium, before you start making plans that include a reverse mortgage, you should know about the rules for condominium projects that have prevented many borrowers from being able to obtain a reverse mortgage.
You can get a reverse mortgage if you own a condominium, as long as it is your principal residence. reverse mortgages are not limited to single-family detached homes.
Reverse Mortgage Condo Changes Allow for Spot/Single Unit. – If you are a homeowner age 62 or older and would like to learn more about reverse mortgages and how you can qualify for a HECM on your condominium call us toll free (800) 565-1722 or request your quote here.
You can get a reverse mortgage on a condominium, but it must be your principal residence. By Amy Loftsgordon , Attorney You can get a reverse mortgage if you own a condominium, as long as it is your principal residence.