Reverse Mortgages: Part Three

Jumbo Reverse Mortgage
The EQUITY PLUS ADVANTAGE is a new jumbo product that is proprietary in its creation to the investor. It allows the borrower to take the maximum amount of money with lower closing costs - no FHA Mortgage Insurance Premium. This product will yield the senior borrower the maximum amount of cash.

The Equity Advantage Product has a 3% margin which is lower than other products available in the market. A higher margin of 3.5% may be selected in return for reduced closing costs. The rate is adjustable, compounded and reset monthly. It is based on the LIBOR index, one of the most stable indexes in the industry, with a 12% cap. Rate.

There is a minimum draw amount required at closing of $100,000 and includes closing costs, liens and any lump sum advancement. The CREDIT LINE GROWTH is 5% per annum with a minimum service fee of $30. per month.

Please contact Ascot Mortgage Services, LLC at 214-360-9505 for a complimentary consultation or schedule a call with your financial advisor to examine the financial, trust and estate planning benefits of a jumbo reverse mortgage.