HECM – The Lending Spot

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NMLS State Licensing: 2024AZ-939018, CA-CA-DBO9752, CO-100528971, FL-LO97659, HI-HI-9752, ID-MLO-3283, MN-MLO-9752, MT-9752, NV-61974, OR-9752, TX-9752, WA-MLO-9752, WY-9752.

2024© Copyright 2023 Premier Mortgage Resources, LLC ("PMR") | NMLS # 1169 | www.nmlsconsumeraccess.org| Equal Housing Opportunity | PMR is not an affiliated or an agency of the federal government. All information contained herein is for informational purpose only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures, rates, terms, programs, and underwriting policies are subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Some products may not be available in all states and restrictions apply. AZ-BK #0937529; CA – Licensed by the Department of Financial Protection and Innovation, under the California Residential Mortgage Lending Act; WA-CL 1169; | expires 12/31/2023

About HECM (Reverse Mortgage) At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to you and you may need to sell or transfer the property to repay the proceeds of the reverse mortgage from the proceeds of the sale or transfer or you must otherwise repay the reverse mortgage with interest from your other assets. We may charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which will be added to the balance of the reverse mortgage loan The balance of the reverse mortgage loan grows over time and interest is charged on the outstanding loan balance. You retain title to the property that is the subject of the reverse mortgage until you sell or transfer the property and therefore you are responsible for paying property taxes, insurance, maintenance, and related taxes. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately and may be subject to a tax lien or other encumbrance or to possible foreclosure; and