It is usually difficult to decide whether or not applying for a reverse mortgage in Cottage Grove is the most suitable choice. When you are considering making that decision, you should meet with a loan officer that specializes in this kind of loan.
A mortgage originator must comply with strict ethical conduct. The objective of all our consultants is to structure the loan that best meets your needs and goals. All are required to disclose and go over with you the conditions and terms of the mortgage. None of our experts are allowed to steer you into other products or loans that are not beneficial to you and also not to your best benefit. If you happen to feel like one of our loan officers is pressuring you, make sure you let us know and begin shopping around for a different lender. It’s your decision; only you can decide what is right for you.
We’ve found the best clients are those that have spent a little time educating themselves. Not only should you complete as much research as possible about reverse mortgages which includes how they work, examples and the pros and cons. But you also need to do research on lenders in Cottage Grove Oregon. The two big reasons to do research on your own, First, you can end up with a much better loan. Second, you could possibly end up getting a much better deal on your interest rate and fees. The US Department of Housing and Urban Development website is where we would recommend your first stop be when doing research. The site covers the basic principles such as the good and bad points, how they work, the downside, plus they explain just about everything.
The fact of the matter is a reverse mortgage may not be the right choice to suit your needs. We encourage you to take a look at all of your options. If, for example, you want to remodel your kitchen, a different kind of single-purpose loan may be more appropriate. We are delighted so that you can figure out if the reverse mortgage is preferable to your other options, simply give us a call. A skilled loan officer will discuss each stage of the process and answer any and all questions you will have. You should look over our ethics policy to understand how we operate as a company.
You will need to do business with someone that only does reverse mortgages. Almost any banker, credit union or mortgage broker in Cottage Grove OR should be able to help you get a reverse mortgage. However, you should remember that this is a very specialized financial product and you should only work with someone that knows it inside and out. We can’t stress enough just how crucial it is to do business with someone local and that understands this product.