Contact Information
Phone:1-800-325-0400

Thank you for giving us the opportunity to provide you one of the most exciting loan products ever created. The reverse mortgage is a government program designed to help those over the age of 62 by allowing them to stay in their homes with no mortgage payments. You read that right; there are no mortgage payments on a reverse mortgage.

Your situation is unique. Please call us and well be happy to answer all your questions.
Call 1-800-325-0400 x 700.

Reverse Mortgage Calculator

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If you are wondering if you should use us over another company, please take the time to read the section “Why use American Fidelity”. You’ll be glad you did!

More on Reverse Mortgages

You may have seen commercials on television or heard about them from your friends or maybe you’ve never heard of them before. I’d like to take this opportunity to share with you some of the features and benefits of having a reverse mortgage.

NO PAYMENTS! – Easily the best feature of the reverse mortgage is that you never have to make a monthly payment. You can even get a monthly check from the bank for the rest of your life!

 

GOVERNMENT PROGRAM – Although a bank will most likely manage your loan, it’s the federal government that stands behind it. You never need to worry about the bank going out of business or someone trying to change the terms of the loan.

 

COUNSELING REQUIREMENT – In order to make sure that this is the right plan for you, the government requires you have an independent third party not for profit organization review your case to be absolutely sure this is the plan for you.

 

GET CASH BACK – Not only do you not have to ever make payments, if there is enough equity in the home, you may be able to receive cash back at the closing. You can choose to receive the money in one lump sum or have it spread out over a time period you specify.

 

LIMITED CREDIT CHECK – Credit scores are not important. Late payments within the last 24 months require an explanation but any late never automatically disqualifies a client. Things happen and we understand that.

 

INCOME REQUIREMENT – We need to verify that you make enough money to pay your bills including your taxes and insurance. If you make more than what your monthly bills are then you are good to go.

Are you still unsure? Then give us a call. We will come to your home and answer all of your questions. We have experienced licensed loan professionals that are available to you from 9am to 10pm 7 days a week. Call us today and get on the path to financial freedom.

Frequently Asked Questions

Is this right for me?
Because the reverse mortgage program is so flexible on how it can be used, anyone that qualifies can find a useful purpose for a reverse mortgage loan.

Will this affect my social security or cause me problems with the IRS?

NO! Absolutely not. Income received from a reverse mortgage is not considered income for the purposes of social security or the IRS. The reverse mortgage program is a government program and it’s designed to help people!

Does this mean the bank owns my home?
No! You own your home as always. The bank is doing nothing more than making a loan to you. There is no difference regarding ownership when you bought the house and when you get a reverse mortgage.

What happens after I die?
The same thing that would happen if you didn’t have a reverse mortgage. Your heirs or those you have willed your property to would get it.

How old do I have to be to get a reverse mortgage loan?
The minimum age is 62 to qualify. You may apply for the reverse mortgage when you are 61.5 years old.

What if I sell my house?
When you sell your house, you must pay the reverse mortgage loan off. So whatever you sell your home for, you must subtract what you owe and the difference is what you would receive at closing! It works the same way if you had a conventional or FHA forward loan.

American Financial Mortgage Services, Inc. is a BBB Accredited Mortgage Broker in Hoffman Estates, IL

Reverse Mortgage Calculator

Borrower Age
Co-Borrower Age
Property Value
Calculate
You are eligible for:
Call 1-800-325-0400