MORTGAGE LOAN PRODUCTS
Construction to PermanentConventional loanManufactured HomesMy Community MortgageReverse Mortgages
Link to MetLife Reverse Mortgage website and
Reverse Mortgage Calculator Rural DevelopmentSecond MortgagesRequired Documents:$400.00 Appraisal fee once you have received a good faith estimate and a truth and lending from the State Bank of FaribaultMost recent W-2’s, along with the last 2 years tax returns with all schedules2 most recent pay stubs or Award letter for Social Security/Disability Income2 most recent savings and checking statementsStatements for any asset accounts (retirement, IRA’s, 401K, Mutual Funds)Homeowners Insurance AgentAbstractCopy of all applicants drivers license front and backCopies of statement of any liability you want to pay (mortgage, credit cards, car loan, etc.)If purchase, complete copy of signed purchase agreementIf construction, complete sworn construction statement and blue prints. Please be very accurate and thorough when completing the sworn construction statement.If applicable, divorce decree, bankruptcy discharge papers
Simply stated, a reverse mortgage is a loan against the equity in your home that provides necessary cash (tax free) without monthly mortgage payments.
To learn more about this exciting opportunity, click here or call us and talk with one of our mortgage lenders.