Garden City Idaho Reverse Mortgage

Your Garden City Reverse Mortgage Guide

Welcome to Garden City

Are you a homeowner in Garden City looking for financial support in retirement? A reverse mortgage loan may be the solution you’ve been seeking. This type of loan allows homeowners aged 62 and older to access their home equity without the obligation to make monthly payments. Instead, the loan is repaid when the borrower sells the home or passes away. Reverse mortgage loans can provide a stable financial foundation and allow seniors to age in place with the comfort and security of their own home.

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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Garden City 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/

Idaho Counseling Agencies

Agency Name: IDAHO HOUSING AND FINANCE ASSOCIATION
Agency ID: 81204
Address: 565 WEST MYRTLE
BOISE, ID 83702-7675
Phone: (855) 505-4700
Website: www.idahohousing.com

Agency Name: IDAHO HOUSING AND FINANCE ASSOCIATION
Agency ID: 83781
Address: 565 W MYRTLE
BOISE, ID 83702-7675
Phone: (855) 505-4700
Website: www.idahohousing.com

Agency Name: POCATELLO NEIGHBORHOOD HOUSING SERVICES, INC
DBA NEIGHBORWORKS POCATELLO
Agency ID: 80870
Address: 206 N ARTHUR AVE
POCATELLO, ID 83204-3104
Phone: (208) 232-9468
Website: https://nwpocatello.org/

Garden City Idaho Frequently Asked Questions

How does a Reverse Mortgage work in Garden City Idaho?

A reverse mortgage in Garden City, Idaho, 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 Garden City, Idaho, 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 Garden City?

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 Garden City?

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 Garden City Idaho

Welcome to Garden City, Idaho! Nestled in the foothills of the Rocky Mountains, Garden City is a vibrant and growing community with a population of over 11,000.

Garden City was founded in 1877 by a group of settlers from the Midwest. Since then, it has grown into a thriving city with a rich history and culture. The city is known for its friendly people, beautiful scenery, and outdoor activities.

Garden City is home to several parks, including the popular Ann Morrison Park. Here, visitors can enjoy a variety of outdoor activities, such as hiking, biking, and fishing. There are also several community centers, such as the Garden City Community Center, which offers a variety of recreational activities for all ages.

Garden City is also home to several schools, including Garden City High School, Garden City Middle School, and Garden City Elementary School. These schools provide a quality education and a safe learning environment for students.

Whether you're looking for a relaxing weekend getaway or a fun-filled family vacation, Garden City has something for everyone. Come and explore the beauty and culture of Garden City, Idaho!

Things To Do In Garden City

Top Sights in Garden City, ID


North Millstream Way

East 51st Street

North Willowbar Lane

West Clubhouse Lane

West Atwater Drive

West River Beach Lane

East 41st Street

West Carlton Bay Drive

East 40th Street

North Adams Street

North Taylor Creek Lane

North Cloud Nine Drive

North Prospect Way

East 50th Street

North Bayou Lane

West Hoff Drive

West Cultis Bay Street

North Willowdale Lane

East 47th Street

Esther Simplot Park

Riverscape Townhomes

North Rock Creek Lane

West Wakefield Street

West Beachside Court

Telaya Wine Co.

Ann Morrison Park

J.A. and Kathryn Albertson Family Foundation Boise Whitewater Park

North Cobbler Lane

West Stoneham Drive

Willowlawn Way

Appomattox Lane

East Water Pocket Lane

East Teena Street

East 38th Street

Savannah Lane

West Sultana Drive

Lakes Edge Place

North Millstone Drive

North Lakeshore Way

East 36th Street

North Confederate Lane

West Pandion Lane

West Plantation Lane

West Tributary Lane

West Pamela Street

Kathryn Albertson Park

Julia Davis Park

Hyatt Hidden Lakes Reserve

Veterans Memorial Park

Camel's Back Park

Freak Alley Gallery

Zoo Boise

North Bogart Lane

Discovery Center of Idaho

West Elmer Street

Aquarium Of Boise

North Dodgin Avenue

Hill Road

North Eiguren Place

Boise River Park

Stephen C. Guerber Park

Boise Depot

West Lamplighter Street

Idaho Anne Frank Human Rights Memorial

Castle Drive

Rhodes Skate Park

West Magnolia Street

Idaho State Museum

North 28th Street

Castle Hills Park

Reid Merrill Park

Morris Hill Park

Boise Art Museum

Idaho Botanical Garden

Boise Cascade Lake

Old Idaho Penitentiary Site

West Neff Street

Wahooz Family Fun Zone

DeMeyer Park

MK Nature Center - Idaho Fish and Game

Julius M. Kleiner Memorial Park

North 36th Street

The Grove Plaza

James Castle House

Capital City Public Market

White Dog Brewing Co. - Boise

Eagle Island State Park

Basque Block

Hulls Gulch/Camel's Back Reserve

Hyde Park

Boise Rose Garden

Settlers Park

Roaring Springs Water Park

Basque Museum and Cultural Center

Kristin Armstrong Municipal Park

Idaho Rivers United

Cathedral of Saint John the Evangelist

Idaho Black History Museum

The Peregrine Fund's World Center For Birds of Prey

Boise Idaho Temple

Street Names in Garden City, ID

Adams Street Alworth Street Andy Lane Andys Gulch Road Apache Way Appomattox Lane
Arney Lane Arnold Road Aspen Street Baron Avenue Basin Way Bills Avenue
Bluebird Drive Bradley Street Branstetter Street Brighton Avenue Broken Horn Road Brown Street
Bull Run Lane Bullrun Lane Bunch Court Carr Street Cartwright Road Casa Grande Lane
Casa Real Lane Caswell Street Cayuse Lane Cayuse Way Chelan Avenue Chico Lane

Garden City, ID Zip Codes

83703, 83714,

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 Garden City

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 Garden City. 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 – Garden City

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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.