Corona de Tucson Arizona Reverse Mortgage

Your Corona de Tucson Reverse Mortgage Guide

Welcome to Corona de Tucson

If you are a Corona de Tucson homeowner aged 62 or older, you may be eligible for a reverse mortgage loan. This type of loan allows you to access your home’s equity without making monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial support and security for seniors in Corona de Tucson, allowing them to age in place and enjoy the comfort and familiarity of their own homes. Don’t let your hard-earned equity go to waste – consider a reverse mortgage loan and see how it can benefit you and your family in retirement.

Reverse Mortgage

Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.

Learn More about a Reverse Mortgage

Reverse Mortgage for Purchase

Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.

Learn More about a Reverse Mortgage for Purchase

HECM to HECM Refinance

A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.

Learn More about a HECM to HECM Refinance

Cash Out Reverse Mortgage

A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.

Learn More about a Cash Out Reverse Mortgage

Jumbo Reverse Mortgage

A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.

Learn More about a Jumbo Reverse Mortgage

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Corona de Tucson Approved Reverse Mortgage Counseling Agencies

HUD Approved HECM Counseling Agencies

The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:

National Counseling Agencies

ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/

Money Management International
(877) 908-2227
https://www.moneymanagement.org/

Credit.org
(800) 947-3752
https://www.homeownership.org/

National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/

Greenpath
(888) 860-4167
https://www.greenpath.com/

Navicore
(866) 855-7736
https://navicoresolutions.org/

Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/

NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/

Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/

Arizona Counseling Agencies

Agency Name: ADMINISTRATION OF RESOURCES AND CHOICES (ARC)
Agency ID: 81052
Address: SUITE 101, 1625 N.ALVERNON WAY
TUCSON, AZ 85712-3369
Phone: (520) 623-9383
Website: https://www.arc-az.org/

Agency Name: ADMINISTRATION OF RESOURCES AND CHOICES (ARC)
Agency ID: 81809
Address: 5800 W GLENN DR STE 275
GLENDALE, AZ 85301-2499
Phone: (602) 374-2226
Website: https://www.arc-az.org/

Agency Name: CREDIT.ORG – PHOENIX
Agency ID: 90589
Address: 2 N CENTRAL AVE
PHOENIX, AZ 85004-2322
Phone: (855) 494-4718
Website: https://www.credit.org/

Agency Name: WESTERN ARIZONA COUNCIL OF GOVERNMENTS (WACOG)
Agency ID: 82429
Address: 1235 S REDONDO CENTER DR
YUMA, AZ 85365-2039
Phone: (928) 217-7195
Website: https://www.wacog.com/

Agency Name: WESTERN ARIZONA COUNCIL OF GOVERNMENTS (WACOG) – KINGMAN BRANCH OFFICE
Agency ID: 82430
Address: 208 NORTH 4TH ST.
KINGMAN, AZ 86401-5815
Phone: (928) 217-7195
Website: https://www.wacog.com/

Corona de Tucson Arizona Frequently Asked Questions

How does a Reverse Mortgage work in Corona de Tucson Arizona?

A reverse mortgage in Corona de Tucson, Arizona, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.

To obtain a reverse mortgage in Corona de Tucson, Arizona, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.

Do I make mortgage payments on my Reverse Mortgage in Corona de Tucson?

No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.

What qualifies for a reverse mortgage in Corona de Tucson?

A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:

  • The youngest borrower on the loan must be 62 years old or older
  • Having an existing mortgage loan balance is OK as long as there is sufficient equity in the home
  • It must be your primary residence, not rental homes or vacation homes
  • Reverse mortgage loans are available as refinance or purchase loans.

How do I receive my money when I get a reverse mortgage?

With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.

About Corona de Tucson Arizona

Welcome to Corona de Tucson, Arizona! Nestled in the foothills of the Santa Catalina Mountains, this small city of just over 5,000 people is a hidden gem in the desert.

Corona de Tucson has a rich history that dates back to the late 1800s. Originally a stagecoach stop, the city was founded in 1881 and was named after the Spanish word for “crown”. Over the years, the city has grown and flourished, becoming a vibrant and welcoming community.

Today, Corona de Tucson is a great place to live, work, and play. The city boasts a variety of outdoor activities, from hiking and biking trails to local parks and community centers. For those looking for a more relaxed experience, there are plenty of shops, restaurants, and galleries to explore.

For families, Corona de Tucson is home to several local schools, including Corona de Tucson Elementary School and Corona de Tucson High School. There are also several private schools in the area, providing a wide range of educational opportunities for students of

Things To Do In Corona de Tucson

Corona de Tucson, AZ Neighborhoods

Santa Rita Bel Air Estates, Santa Rita Estates, Santa Rita Shadows, Santa Rita Bel Air Townhomes, Crown Of Tucson Townhouses,

Top Sights in Corona de Tucson, AZ


West Lexington Street

East Sycamore View Road

East Forrest Feezor Street

West Wilkinson Street

South Seldon Place

South Charleston Avenue

S Eva Avenue

South Mesa Shadows Drive

East Desert Haven Place

South Painted River Way

East Painted Pueblo Drive

East Scepter Lane

West Charles L Mckay Street

South Sweet Ridge Drive

East Blue Mesa Place

East Bishop Lane

West Sg Posey Street

South Courts Redford Drive

East Creosote Draw Road

East Drawdown Trail

West Cn Rock Street

South Baker James Cauthen Place

East Nashville Avenue

West Woodward Street

South Garfield Avenue

South Adanirom Judson Avenue

South Montgomery Avenue

East Cactus Mountain Drive

South Douglas Washington Road

East Greek Sage Way

South Blue River Loop

East Sterling Canyon Drive

South Vanilla Peak Court

East Adytum Place

East Blue Rock Way

South Sonoran Sea Agave Loop

South Golden Sunrise Place

South Indigo Crest Pass

South Indigo Mesa Pass

South Desert Haven Road

South Vermillion Sunset Drive

East Sycamore Springs Trail

South Sienna Bluffs Trail

Vail

South Painted Vistas Way

East Ocotillo Rim Trail

South Weismann Drive

East Blue Lava Trail

East Becker Drive

East Colossal Cave Road

East Golden Oaks Road

South Cutting Horse Drive

East Pocketknife Drive

East Marsh Station Road

South Long Bar Ranch Place

Street Names in Corona de Tucson, AZ

Aberdeen St Charleston Pl E Circle H Ranch Pl E Circle M Ranch Pl E Drawdown Trail E Knight Ln
E Macon Dr E Monte Vista E Montgomery E Observatory Dr E Savannah St E Tallahassee Dr
E Vista Monte Dr G S Dobbins St Imperial Ct N Ave Del Caballero S Adanirom Judson Ave S Atlanta St
S Box R Ranch Pl S Charleston Pl S Circle Y Ranch Pl S Eynon Pl S Grantham Ave S Harry P Stagg Pl
S Holcomb Cir S Montgomery Ave S Montgomery Pl S Niles Puckett Ave S Observatory Pl S Porter Routh Pl

Reverse Mortgage Regulations

HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”

Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”

NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.

NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions.  They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.

Reverse Mortgage Lenders near Corona de Tucson

Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.

We are proud to serve the residents of Corona de Tucson. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.

Reverse Mortgage Resource Center
Phone: 385-503-2224

Reverse Mortgage Resource Center – Corona de Tucson

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REVERSE MORTGAGE RESOURCE CENTER ~lIVE lIFE ON yOUR tERMS~


Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.