Our loan program

Reverse Mortgage

Purchase or Refinance

For home owners 62 or older that have considerable home equity.

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Up to
80%
LTV - Purchase
80%
LTV - Rate & Term
75%
LTV - CASH OUT
30 - 40
Year Fixed
IO Options
$250K up to $8M

Reverse Mortgage

In a word, a reverse mortgage is a loan. A homeowner who is 62 or older and has considerable home equity can borrow against the value of their home and receive funds as a lump sum, fixed monthly payment, or line of credit. Unlike a forward mortgage—the type used to buy a home—a reverse mortgage doesn’t require the homeowner to make any loan payments.

Instead, the entire loan balance, up to a limit, becomes due and payable when the borrower dies, moves out permanently, or sells the home. Federal regulations require lenders to structure the transaction so that the loan amount won't exceed the home’s value. Even if it does, through a drop in the home’s market value or if borrower lives longer than expected, the borrower or borrower’s estate won’t be held responsible for paying the lender the difference thanks to the program's mortgage insurance.

A reverse mortgage is a type of home loan for seniors ages 62 and older.

Reverse mortgage loans allow homeowners to convert their home equity into cash income with no monthly mortgage payments.

Reverse mortgages can be a great financial decision for some seniors but a poor financial decision for others.

Be sure to understand how reverse mortgages work and what they mean for you and your family before borrowing.

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BENEFITS

Why Should You
Choose Us?

If you’re interested in applying for a bank statement loan to secure financing for a home, contact Equity Direct Financial today. We can help you with a bank statement loan that helps self-employed workers and independent contractors avoid having to submit tax returns for loans. Don’t let the lack of a tax return stop you from getting the loan you deserve. We at Equity Direct Financial will ask you to submit several months’ worth of bank statements to us, which we will review and verify before we submit to a home lender.

  • Customer Focused
  • Minimal Documentation
  • In House Fund Control
  • Best Loan Services
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Adam Vaughn
“Just want to express my appreciation to Jason Gregoroff with Equity Direct Financial. My situation was a bit challenging, and although it took a few months, Jason was always keeping me in the loop and checking in, allowing me to feel at ease with the process. I have worked with other lending institutions and please give Jason and his team a shot at helping you. They are friendly, efficient, hard working, but most of all trustworthy of your personal information. Highly recommend !!!!!”

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States We Lend

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$250K – $10MM+ non-owner occupied property

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2-months of recent bank statements

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Fix & Flip Experienced Required

PURCHASING SERVICES

Our Core Purchasing Service

Whether you’re looking to purchase a new home or refinance your existing home, Equity Direct Financial can provide all the help you need.

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Jumbo Loans

That expensive home of your dreams doesn’t necessarily have to be out of your price range.

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VA Loans

Military Veterans are guaranteed a home loan with no down payment from the federal government.

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FHA Loans

Make sure you’re protected from defaulting on your mortgage is with a Federal Housing Administration loan.

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Asset-Based Loans

Looking at creditworthiness as part of a loan application, there are alternatives to simply showing your income to a lender.

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Foreign National Loans

A foreign national loan makes it possible for you to own a home, even though you’re not a citizen.

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Stated Income

Our Bank Statement and Profit & Loss programs are designed for Self-Employed Borrowers

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LET’S CONTACT

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