What Is A Reverse Mortgage?
A reverse mortgage is a home loan, used for any purpose, where seniors 62 and older can access the equity (cash) built up in their home. It can also be used to purchase a home should you desire to be free of having to make a monthly mortgage payment.
It is called a reverse mortgage because although you borrow money from a lender, the lender makes monthly payments to you, rather than you making monthly payments to the lender. Or they provide you with a lump sum either in cash at closing or accessed when you want it through a credit line. Funds can be used to pay off existing debt or as you see fit. Any cash back you receive is tax-free, and all interest is paid at the end of the loan, rather than the beginning.
Reverse Mortgage Benefits
Strengthen your personal and financial independence
Help pay for health care or other family needs, retire early, defer social security to maximize payments, or purchase a home without monthly payments.
You retain the title to your home as long as you maintain the property tax and insurance payments.
You retain your Medicare and Social Security benefits. You receive the money tax free.
Call Us For Details About A Reverse Mortgage
Spencer Harward
Loan Officer, United American Mortgage
NMLS 2018058 – Direct Phone: 602-793-4243,
email: ssharward@uamco.com
Scott Harward
Branch Manager & Senior Loan Officer,
United American Mortgage , NMLS 188539
Direct phone 480-223-2265 email: sharward@uamco.com
Harward Mortgage Team
4425 East Agave Road Bldg. 4, Suite 121, Phoenix
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Harward mortgage team was phenomenal in our home buying process. Scott took the time to really explain everything and helped me in getting a better rate than another … read more lender. Scott was patient and understanding with my wife and I during our first home buying experience. Scott will be my go to from now on no matter what. I would recommend his team to anyone looking to purchase a home.
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Scott went out of his way for us. We knew a new home purchase would be a challenge. Scott was informative, patient, and overall a HUGE part on making our dreams … read more come true. We highly recommend this team. If you're shopping for a mortgage, these people will go to bat for you.
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Scott was outstanding to work with. I was moving cross-country and my realtor recommended working with Scott. He was able to help me acquire the financing I needed … read more at a great rate in order to quickly enact the purchase of my home. He had great follow-up and assistance as we worked through the complete process. I acquired the needed financing and my closing went off very smoothly. I would highly recommend working with Scott!
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Scott and his team at Arizona Mortgage Specialists were amazing. We were first time home buyers, so we naturally had a lot of questions. Scott was always very responsive … read more and did not mind explaining things multiple times if needed. He ensured that all deadlines were met and kept us informed throughout the entire process. We would definitely recommend Scott and his team and would use them in the future!
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We had a 100% positive experience with Scott Harward throughout the entire mortgage process. We would use Harward Mortgage again without hesitation. I only wish … read more Scott were a Realtor and dwelling inspector also! We were in competent hands with Scott and Spencer. Scott was always available to answer questions about anything. I consider him a close ally!
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As someone who knows absolutely nothing regarding mortgages and home loans Scott has been a rock star for me. He's taken the time to explain the options that … read more I have, the pros and cons of each possibility and in a manner that was clear and concise. The things I really appreciated when working with Scott have been his reliability and timeliness. If you have to leave a message, he will get back to you, quickly. I will definitely refer Scott to my friends and family.
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Scott is an experienced professional that I have had the pleasure of doing several loan transactions with. Scott is extremely knowledgeable on the various types … read more of loans available and gives a non-biased view of the pros and cons of each one. Scott is also very responsive and makes himself available if necessary after normal working hours. I highly recommend using Scott as your loan officer for your next real estate transaction!
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I’ve had several great experiences working with Scott over the years. He has helped me refinance twice and is knowledgeable and professional. On numerous occasions … read more I’ve called him to ask questions and he is always helpful without being pushy. I also appreciate that he doesn’t flood my email with advertisements and offers.
