Twin Falls Idaho Reverse Mortgage

Your Twin Falls Reverse Mortgage Guide

Welcome to Twin Falls

If you are a Twin Falls 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 Twin Falls, 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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Twin Falls 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/

Twin Falls Idaho Frequently Asked Questions

How does a Reverse Mortgage work in Twin Falls Idaho?

A reverse mortgage in Twin Falls, 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 Twin Falls, 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 Twin Falls?

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 Twin Falls?

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 Twin Falls Idaho

Welcome to Twin Falls, Idaho! Nestled in the heart of the Snake River Valley, Twin Falls is a vibrant city with a population of over 44,000 people. It's a great place to call home, with a rich history and plenty of activities to keep you busy.

Twin Falls was founded in 1904, when two brothers, I.B. and S.E. Perrine, purchased the land and began to develop it. The city quickly grew, and today it is the largest city in South Central Idaho.

Twin Falls is a great place to explore and have fun. There are plenty of parks and outdoor activities to enjoy, including the Perrine Bridge, which offers breathtaking views of the Snake River Canyon. There are also plenty of community centers and local schools, such as Canyon Ridge High School, to explore.

If you're looking for a great place to visit, Twin Falls is the place to be. With its rich history, vibrant culture, and plenty of activities to keep you busy, you won't be disappointed. Come explore Twin Falls and see why it's such a great place to call home!

Things To Do In Twin Falls

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Top Sights in Twin Falls, ID


Shoshone Falls Park

Perrine Memorial Bridge

Madrona Street North

Starlight Loop

Bolton Street

3rd Avenue East

North Fork Rd.

Rimview Drive

Addison Avenue

Madrona Street

Fillmore Street

Maurice Street

Park Meadows Circle

River Vista Place

Blue Grouse Way

Crestview Drive

Washington Street South

Alder Drive

Snake River Canyon Rim Trail

Twin Falls City Park

Centennial Waterfront Park

Evel Knievel Snake River Canyon Jump Site

Orton Botanical Garden, llc

Herrett Center

Tandem Base

Faulkner Planetarium

Rock Creek Park

Harmon Park

Mary Alice Park

Perrine Coulee Falls

Canyon Rim Trail

Canyon Springs-Twin Falls Golf Club

Dierkes Lake Park

Mogensen Trail

East 3500 North

Snake River Aquifer

Pillar Falls

Twin View Lane

Auger Falls Trailhead

East 3700 North

Dierkes Lake

Shoshone Falls

East 2200 North

Twin Falls County Museum

Blue Lakes

Hansen Bridge

Auger Falls

Twin Falls

Vineyard Lake

Sunrise Park

Street Names in Twin Falls, ID

10th Ave E 10th Ave N 11th Ave E 1300 N 1300 North Rd 1500 N
1510 N 1520 N 1520 North Rd 1600 North Rd 1750 E 1800 East Rd
1900 East Rd 1st St W 2000 East Rd 2100 East Rd 2100 N 2272 E
2278 E 2284 E 2290 E 2300 E 2300 North Rd 2400 E
2400 N 2450 N 2500 E 2510 E 2537 East Rd 2538 E Rd

Twin Falls, ID Zip Codes

83301, 83303,

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 Twin Falls

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 Twin Falls. 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 – Twin Falls

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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.