We Ve Always Prided Ourselves on Being Able to Provide the Right Financial Product To
Premier Mortgage Broker Adds Reverse Mortgages to its Line of Mortgage Products
Senior citizens who are looking for long term financial solutions are considering Reverse Mortgages as one of the many options available to them to meet their ongoing financial needs. HomeFirst Mortgage Corp. in Alexandria, Virginia is prepared to fully educate seniors, their heirs, as well as their professional advisors in this process.
Alexandria, Virginia—March15, 2007 – HomeFirst Mortgage, a premier mortgage brokerage firm, headquartered in Alexandria, Virginia is expanding its vast array of financial products to support the growing number of senior citizens, throughout the 24 states in which they are licensed.
“We’ve always prided ourselves on being able to provide the right financial product to meet a client’s particular set of financial needs. The Reverse Mortgage loans are just one more tool, in our arsenal, that allows us to ensure our clients that we can continue to offer the right product for their unique situation," stated Greg Kundinger, President of HomeFirst Mortgage Corp.
Oray Nicolai, former Vice President of Sales at HomeFirst added, “By providing a team of professionals who will specialize in this market segment, wehave the ability to help our seniors completely understand this product and how it can assist them in meeting their financial goals and objectives. Additionally, our team is trained and fully prepared to meet with financial planners, elder care attorneys, long term care advisors----anyone involved in the process of assisting seniors with defining and meeting their needs as they age---and for what they dream of providing for their heirs.”
Cyndi Stephenson, former Reverse MortgageDivision Manager states, “Because we, at HomeFirst, have parents who may someday be a candidate for a Reverse Mortgage, an extraordinary amount of timewas spent, by our entire team, researching these products to make certain we clearly understood every aspect of these loans before we added them to our product line.We certainly wanted to achieve a high level of expertise with them, but more importantly, we wanted to be able to anticipate any nuance that might cause us to decide, in fact,that these loans may notbe the appropriate product for any segment of our client base.
Stephenson adds, “Based on our research, we are confidentthat our dedicatedteam can indeed utilize these loans to their highest potential---as a true financial planning tool for seniors and their advisors. With our technology and our expertise, we can trulydemonstrate----to a large subset of our senior base---exactlyhow we can harness the wealth they have accumulated in their home---not only to meet their own financial needs---but at the same time---show them exactly how they can continue to utilize their home to preserve and potentially enhance the wealth they wish to leave behind for their heirs. It is a unique and well studied approach to Reverse Mortgage Loans.”
What is a Reverse Mortgage?
A Reverse Mortgage is a special type of home loan that allow homeowners, who are 62 and older, and have substantial equity in their home, to “reverse roles” and let their lenders actually pay them---tax free money---for as long as they remain in their home.
Example:
“A property owner, who is 71 years old with a home value of $380,000 in McLean, Virginia, could choose to receive a monthly payment of $1,360 for as long as he or she lives in the home. Other choices for the homeowner include a lump sum pay out at closing for $228,853; or keeping the $228,853 as a credit line to access on an as needed basis over the years. By selecting the credit line option, homeowners take advantage of a growth feature that currently increases at a rate of 6.45% annually. In five years, the credit line would be worth $315,677; in ten years it would be worth $435,440---and would continue to grow. Interest charges do not begin to accrue on the amount of the credit line UNTIL monies are actually borrowed on the line. All of this---while the seniors remain in the home---and the property continues to appreciate.
How to learn more about Reverse Mortgages:
For more information on the subject of Reverse Mortgages, please visit the HomeFirst Mortgage Reverse Mortgage website at: where you will find a complete tutorial on the subject of Reverse Mortgages, real-world scenarios and more information about how you and your family can utilize the Reverse Mortgage loan program as a financial planning tool.
About HomeFirst Mortgage Corp.
HomeFirst Mortgage Corp. is an independently owned and operated mortgage brokerage based in Alexandria, Virginia. Licensed to originate loans inover a dozen states withmore than 50 wholesale lenders, provides HomeFirst Mortgage Corp. with an unparalleled flexibility to meet the needs of almost any client in almost any situation.
With loans designed to meet some very specific needs in our society today, such as Energy Efficient Mortgages (EEMs), loans for the growing environmentally sensitive sector, HomeFirst Mortgage is looking to be a leader in innovative mortgage lending to serve all sectors of the home buying public.
From its inception, the mission statement of HomeFirst Mortgage Corp. has remained the same: service, service, service--combined with very competitive pricing. All of us, as consumers, are reminded daily of the downside of poor service. Our goal is to provide you with an incomparable level of service therefore making you an educated consumer and a well-satisfied client. We truly realize that your experience with our company will influence our future success. That may be why HomeFirst is among the area's premier mortgage brokerage firms.
207 South Alfred StreetAlexandria, VA 22314
Phone 703.549.3400 Fax 703.549.5139 Toll Free 800.232.1219