Search
Close this search box.
Contact

Our Mission

We help Arizonans achieve financial freedom by eliminating monthly mortgage payments and converting equity into cash.

How does a reverse mortgage work in Arizona?

A reverse mortgage loan is a financial tool designed to help Arizona homeowner’s who are 62 years or older utilize the equity in their residence.
Very often these funds are used to reduce monthly expenses, renovate your home, or simply retire in place. There are no rules on what you do with your funds.

Arizona Reverse Mortgages

Reverse Mortgage Consultation

Personalized guidance and expert advice tailored to your unique financial situation, helping you navigate the complexities of reverse mortgages with confidence.

Customized Equity Release Solutions

Tailored strategies designed to unlock the equity in your home while meeting your specific needs and goals, providing financial flexibility and peace of mind.

Financial Planning for Seniors

Comprehensive financial planning services specifically tailored to seniors, focusing on maximizing income, managing assets, and ensuring a secure retirement through informed decision-making.

Home Equity Conversion Advice

Professional guidance and support for converting home equity into usable funds through reverse mortgages, empowering you to make informed decisions about your financial future.

Types of Reverse Mortgages in Arizona

Arizona Home Equity Conversion Mortgage (HECM)

The Arizona HECM is a federally backed reverse mortgage designed for borrowers aged 62 or older to turn a portion of their home equity into cash without having to sell their property. This type of mortgage takes the place of any existing mortgage and eliminates monthly mortgage repayments. In most situations you are responsible for the property expenses (property taxes, insurance, and maintenance) but you are free from mortgage payments. You can choose to receive their funds as a single payment, in monthly installments, as a line of credit, or through a combination of these methods. With an Arizona HECM there's no requirement for monthly loan payments and it’s a wonderful financial tool for supplementing income, financing home improvements, or just enjoying life without a mortgage payment.

Arizona HECM for Purchase Money (AHPM)

YES, you can use a reverse mortgage to purchase your new home! The Arizona HECM for Purchase Money is a great opportunity for Buyer’s that are downsizing or resizing and no longer want a mortgage payment. It works about the same as a regular Arizona HECM, however, instead of using the equity in your current house, you create the equity in your new home with your down payment and we fund the rest. A purchase money reverse mortgage is the ultimate way to hang on to your cash, have no monthly mortgage payment, and buy the home you REALLY want!

Arizona Jumbo Reverse (AJRM)

We are proud to offer the Arizona Jumbo Reverse Mortgage. This is our latest financial tool that allows our clients to borrow up to $4 million in non-recourse, non-taxed funds for whatever purpose you desire. The AJRM program caters to Arizona reverse mortgage borrowers with high value homes.

Get Your Free Proposal

Frequently Asked Questions

In Arizona, a reverse mortgage gives homeowners to access their equity as cash. This can come in various forms: lump sum, monthly payments, or a line of credit. This type of loan is settled once the homeowner sells or vacates the property. A reverse mortgage is a powerful financial tool that can be used to eliminate monthly mortgage payments and access cash.
In Arizona, you do not need to own your house free and clear to obtain a reverse mortgage. In fact, a reverse mortgage is often used as a tool to relieve homeowners of the burden of monthly mortgage payments. The minimum age requirement for a reverse mortgage in Arizona is 62 and the property must be your primary residence.
The answer is, ABSOLUTLEY you will still own your home. The biggest misconception about reverse mortgages in Arizona is the idea that the bank owns your home. This couldn’t be further from the truth. Just like any other mortgage, the home is yours until the terms of the loan is satisfied.
It’s your money, use it as you wish! There is no restriction on how you use the money. Most of our clients use the funds to take their lives easier by eliminating debt, making renovations, or supplementing their monthly income.
They certainly can. Reverse mortgages in Arizona are not assumable so they will need to pay it off. This can be done via a sale, cash, or a new loan on the property.
As with any mortgage, an Arizona reverse mortgage borrower is responsible for ongoing property related expenses. These expenses can include property insurance, taxes, HOA dues (if you live in a HOA community), and normal maintenance items. You are also required to keep the home as your primary residence.

Unlock Your Free Guide to Reverse Mortgages Today!

Guide Download Available

Copywrite 2024 Gilbert Mortgage NMLS#1939119 Equal Housing Opportunity

928-612-2441

Scroll to Top
Sign Up Today!
Start your journey with us today!