A Home Equity Conversion Mortgage (a reverse mortgage sometimes referred to as HECM) is often considered an avenue for high-equity homeowners to supplement retirement income without selling the home. However, the flexibility of a HECM can also offer funding to make critical improvements or cost-saving upgrades to the home.
Welcome to our family! MTG Family Mortgage is led by Michael Gonzales, Wichita Mortgage Specialist, and consists of family members that support various functional areas of the business. Our name means more than just the fact that our team is a family, it means our customers are family too. We work with each customer to develop a custom mortgage plan. Because we offer different loan programs, we can work with each customer to determine what loan is a best fit for their current situation and needs. Michael, head loan officer, has been in the industry for more than 15 years. He was a recipient of Mortgage Professionals of America Young Guns Award, National Mortgage Professionals 40 to Watch and is a certified instructor for continuing education courses on various loan products to industry professionals. He’s helped more than 1,000 families achieve the dream of home ownership.
It’s an exciting time in your life. You’ve worked hard, you saved up — you’re considering buying your first home. But the road between first time homebuyers and the dotted line can be full of rookie mistakes. To help you spot these pitfalls before you’re in them, here’s three things to consider when going from homebuying to home owning for the first time.
If you or a family member is considering a Home Equity Conversion Mortgage, or HECM (also known as a reverse mortgage), you probably know that age is important; after all, FHA requires that borrowers be 62 years old to qualify.
But there are other reasons age matters,