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Providing valuable resources for our Real Estate Buyers and Sellers is our top priority.

Here are some frequently cited reasons for buying a house:
* You need a tax break. The mortgage interest deduction can make home ownership very appealing.
* You are not counting on price appreciation in the short term.
* You can afford the monthly payments.
* You plan to stay in the house long enough for the appreciation to cover your transaction costs. The costs of buying and selling a home include real estate commissions, lender fees and closing costs that can amount to more than 10 percent of the sales price.
* You prefer to be an owner rather than a renter.
* You can handle the maintenance expenses and headaches.
* You are not greatly concerned by dips in home values.


 

Contact Information

Joel Nelson
Keller Williams Realty Kalamazoo
8075 Creekside Drive
Portage, Michigan, 49024
Office: 269-492-7582
Cell: 269 760-1558
Fax: 888-234-7221
what is a reverse mortgage loan? | Print |  E-mail

What is a reverse mortgage loan?

A reverse mortgage is a special type of loan available only to older homeowners with full or nearly full equity in their homes. Such owners can borrow against the equity they have built up over the years, but no repayment is necessary until the borrower sells the property or moves elsewhere. If the borrower dies before the property is sold, the estate repays the loan (plus any interest that has accrued.
These loans have become increasingly popular. If you believe you qualify for such a loan, be sure to have the document reviewed by an attorney or financial advisor.
Questions about Kalamazoo & Portage Michigan Real Estate?

Ask us below or Call us Now at 269-760-1558
 
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