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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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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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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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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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 Harward and his team with United American Mortgage were all fantastic! Very helpful from start to finish with my home buying process. I would definitely recommend … read more them to all my family and friends when looking for a mortgage.
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I can't say enough good things about Scott and his whole team. They consistently go above and beyond to take care of their customers. I've used Scott for … read more 3 separate houses now and I can tell you I will use him again on every transaction going forward. Thanks Scott for the great experience time and time again.
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Scott and his team are fantastic. Very knowledgeable, efficient and great rates. Highly recommend.
