[Sandy, 6/2/2015]—Altius Mortgage, a premier Utah mortgage broker, offers a comprehensive and efficient reverse mortgage pre-qualification process. In just a matter of 10 minutes or less, clients can get pre- qualified and explore mortgage options that best suit their specific needs. The process starts with filling out an online form. After that, the mortgage lenders contact clients to inform them more about mortgage options.

The Right Mortgage Option for Retirees

Reverse mortgage is a type of home loan where a person can borrow money based on home equity. The Altius Mortgage team shares that this option is best for retirees. Seniors will not have to worry about paying existing monthly mortgage payments and they can stay in the home and keep the property title.

Further, heirs of the property get the remaining equity after paying off the Home Equity Conversion
Mortgage (HECM) loan. Clients can also take advantage of the tax-free loan proceeds.

In an effort to do away with the confusion that comes with the mortgage process, the Altius Mortgage team guides clients every step of the way. They lay out all the options to clients to ensure an informed decision.

Candidates for Qualification

Altius Mortgage discusses eligibility requirements. Borrowers must be at least 62 years old and have sufficient equity in the home. Eligible properties range from a single family home, to two or four-unit owner-occupied properties, and townhouses to approved condominiums and manufactured homes.

Money Matters

The Altius Mortgage team says that most closing costs and fees can be financed as part of the loan. This means clients can expect little or no upfront fees. The amount available depends on the age of the youngest borrower, current interest rates, present Utah mortgages amount, and the lesser amount of the appraised value of the property. Clients can get the funds in lump sum, regular monthly payments, credit line, or combination of these choices.

About Altius Mortgage

Since its establishment, Altius Mortgage has never faltered in fulfilling its commitment of making the journey towards achieving the Great American Dream easy and hassle-free. The team’s thorough loan process and financial experts help clients secure the best mortgage rates, regardless of credit or
financial history. Prioritizing excellent customer service, the company has built a convenient online system where their clients can monitor the progress of a home mortgage loan.

For more information about the company, visit AltiusMortgage.com.