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What is a reverse mortgage?
HECM stands for home equity conversion mortgage. Reverse mortgages allow for seniors to release a portion of the home’s equity to eliminate any existing mortgage payments. HECM’s are unique in that there are no monthly mortgage payments required – no other program has this unique feature.
More than 600,000 seniors have taken out a reverse mortgage loan to improve their retirement, your not alone.
Compare HECM Lenders in VT for free with RMLD – Let us find you the best program.
Seniors in VT qualify for a reverse mortgage if…
- they are 62 years of age or older
- own their homes
- have equity available in the property
- can afford to pay for the home’s property taxes and insurance
- have never defaulted on governemnt insured loans
I qualify for the HECM reverse mortgage how does this program improve my retirement?
- improve your retirement qualify by having access to your equity today
- no more mortgage payments while you are living in the home
- interest rates are at all time low’s
- ability to spend the equity as you wish – no restrictions are placed on the funds
- no taxes are applied to the equity you release
“There is no other program which allows seniors to access their home’s equity without having payment in retirement.”
How Does the Reverse Mortgage Work in Vermont?
You have worked hard your entire life to build up your home’s equity, insn’t it time that your home paid you back? Well, FHA (Federal Housing Administration) insures the HECM reverse mortgage which allows you to use your home as a tool to fund your retirement.
Many seniors are still having to pay each month a mortgage payment this is seriously impacting the quality of those seniors retirement. What if you could use all the built up equity in your home to generate a new income source, this would greatly improve the quality of your retirement.
This is what the reverse mortgage program was designed for. Seniors are taking advantage of the low interest rate enviroment and the ability to qualify for a reverse mortgage loan without having income or credit scores to meet. There are no payments to be made (you are only responsible for the property taxes, insurance, and home maintanance expenses). It will cost you $0 to find our your options give us a call today.
Snapshot of Vermont
621.8 K
Population
$111,500
Median Home Value
71%
Home Ownership Rate
15%
Percent PopulationOver 65
Find Your City to Compare State and National Averages
| LOCATION | POPULATION | MED. HOME VALUE | HOME OWNERSHIP RATE | % POPULATION OVER 65 |
|---|---|---|---|---|
| USA | 307,006,550 | $119,600 | 66% | 13% |
| Vermont | 621,760 | $111,500 | 71% | 15% |
| Burlington | 38,358 | $131,200 | 42% | 11% |
Local Reverse Mortgage Lenders/Banks/Brokers in Vermont
A
Adamant · Addison · Albany · Alburg · Alburgh · Andover · Arlington · Ascutney · Athens · Averill
B
Bakersfield · Baltimore · Barnard · Barnet · Barre · Barton · Beebe Plain · Beecher Falls · Bellows Falls · Belmont · Belvidere Center · Bennington · Benson · Berlin · Bethel · Bloomfield · Bolton Valley · Bomoseen · Bondville · Bradford · Braintree · Brandon · Brattleboro · Bread Loaf · Bridgewater · Bridgewater Corners · Bridport · Bristol · Brookfield · Brookline · Brownington · Brownsville · Brunswick · Burlington
C
Cabot · Calais · Cambridge · Cambridgeport · Canaan · Castleton · Cavendish · Center Rutland · Charlotte · Chelsea · Chester · Chester Depot · Chittenden · Clarendon Springs · Colchester · Concord · Corinth · Cornwall · Coventry · Craftsbury · Craftsbury Common · Cuttingsville
D
Danby · Danville · Derby · Derby Line · Dorset · Dummerston
E
East Arlington · East Barre · East Berkshire · East Burke · East Calais · East Charleston · East Concord · East Corinth · East Dorset · East Dover · East Dummerston · East Fairfield · East Hardwick · East Haven · East Middlebury · East Montpelier · East Orange · East Poultney · East Randolph · East Ryegate · East Saint Johnsbury · East Thetford · East Wallingford · Eden · Eden Mills · Elmore · Enosburg Falls · Essex · Essex Junction
F
Fair Haven · Fairfax · Fairfield · Fairlee · Ferrisburgh · Florence · Forest Dale · Franklin
G
Gaysville · Gilman · Glover · Goshen · Grafton · Granby · Grand Isle · Graniteville · Granville · Greensboro · Greensboro Bend · Groton · Guildhall · Guilford
H
Hancock · Hardwick · Hartford · Hartland · Hartland Four Corners · Highgate Center · Highgate Springs · Hinesburg · Huntington · Hyde Park · Hydeville
I
Irasburg · Island Pond · Isle La Motte
J
Jacksonville · Jamaica · Jay · Jay Peak · Jeffersonville · Jericho · Jericho Center · Johnson · Jonesville
K
Killington
L
Lake Elmore · Landgrove · Leicester · Lemington · Lincoln · Londonderry · Lowell · Lower Waterford · Ludlow · Lunenburg · Lyndon · Lyndon Center · Lyndonville
M
Maidstone · Manchester · Manchester Center · Marlboro · Marshfield · Mc Indoe Falls · Mendon · Middlebury · Middlesex · Middlesex Center · Middletown Springs · Milton · Monkton · Montgomery · Montgomery Center · Montpelier · Moretown · Morgan · Morristown · Morrisville · Moscow · Mount Holly · Mount Snow · Mount Tabor
N
New Haven · Newbury · Newfane · Newport · Newport Center · North Bennington · North Chittenden · North Clarendon · North Concord · North Ferrisburgh · North Hartland · North Hero · North Hyde Park · North Middlesex · North Montpelier · North Pomfret · North Pownal · North Springfield · North Thetford · North Troy · Northfield · Northfield Falls · Norton · Norwich
O
Orange · Orleans · Orwell
P
Panton · Passumpsic · Pawlet · Peacham · Perkinsville · Peru · Pittsfield · Pittsford · Plainfield · Plymouth · Post Mills · Poultney · Pownal · Proctor · Proctorsville · Putney
Q
Quechee
R
Randolph · Randolph Center · Reading · Readsboro · Richford · Richmond · Ripton · Riverton · Rochester · Roxbury · Rupert · Rutland · Ryegate
S
Saint Albans · Saint Albans Bay · Saint George · Saint Johnsbury · Saint Johnsbury Center · Salisbury · Sandgate · Saxtons River · Searsburg · Shaftsbury · Sharon · Sheffield · Shelburne · Sheldon · Sheldon Springs · Shoreham · Shrewsbury · Smugglers Notch · South Barre · South Burlington · South Chittenden · South Duxbury · South Hero · South Londonderry · South Newfane · South Pomfret · South Reading · South Royalton · South Ryegate · South Strafford · South Woodstock · Springfield · Stamford · Starksboro · Stockbridge · Stowe · Strafford · Stratton · Stratton Mountain · Sudbury · Sugarbush Valley · Sunderland · Sutton · Swanton
T
Taftsville · Thetford · Thetford Center · Tinmouth · Topsham · Townshend · Troy · Tunbridge
U
Underhill · Underhill Center
V
Vergennes · Vernon · Vershire · Victory
W
Waitsfield · Wallingford · Wardsboro · Warren · Washington · Waterbury · Waterbury Center · Waterford · Waterville · Websterville · Wells · Wells River · West Arlington · West Berlin · West Braintree · West Brattleboro · West Brookfield · West Burke · West Charleston · West Cornwall · West Danville · West Dover · West Dummerston · West Fairlee · West Glover · West Halifax · West Hartford · West Haven · West Marlboro · West Newbury · West Pawlet · West Rupert · West Rutland · West Topsham · West Townshend · West Wardsboro · West Windsor · Westfield · Westford · Westminster · Westminster Station · Westminster West · Weston · Weybridge · White River Junction · Whiting · Whitingham · Wilder · Williamstown · Williamsville · Williston · Wilmington · Windham · Windsor · Winhall · Winooski · Wolcott · Woodbury · Woodford · Woodstock · Worcester
HUD’s list of approved HECM Counselors in Vermont.
Counseling is mandatory in all states for those who wish to get a HECM loan.
| HECM Counseling Agency Roster as of 06/05/2013 (2 records were selected, 2 records displayed.) |
| Name | Agency ID | Address | Phone | Web Site |
| GILMAN HOUSING TRUST | 81610 | PO BOX 259 LYNDONVILLE, VT 05851-0259 |
(802) 535-3555 | http://www.myvthome.org |
| NEIGHBORWORKS OF WESTERN VERMONT | 82774 | 110 MARBLE STREET WEST RUTLAND, VT 05777-4414 |
(802) 438-2303 | http://www.nwwvt.org |
| DITECH MORTGAGE CORP 160 E MAIN ST RICHMOND, VT 05477 CHITTENDEN County |
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| Title II | |||||
| Approval Date: Jul 12, 2012 | [81 Areas Approved for Business] | ||||
| HECM: Yes | Originates 203K: No | ||||
| Telephone: (802) 343-6434 | FAX Number: (866) 931-7859 | ||||
| E-Mail Address: [email protected] | |||||