No income qualification is required

Income qualification is required.

Borrower can continue to live in the house as long as mortgage obligations are met. Foreclosure can occur if any mortgage obligations are violated.

Borrower is forced to vacate the house

House is sold to the Lender

Borrower retains title and possession of the house.

There are no monthly mortgage payments required. However, borrower must continue to pay property taxes, homeowners insurance, HOA dues (if applicable), and property maintenance.

Monthly payments are required

You may qualify even if you have a mortgage or other debt. However, Reverse Mortgage proceeds must first be used to pay off these debts.

Your home must be debt free to qualify

Medicare and Social Security Benefits are unaffected. Contact the Social Security Administration, Area Agency on Aging or Legal Services.

Loss of Medicare and Social Security Benefits

Heirs will not inherit the home free and clear of any liens, and will only be able to retain ownership of the home after the Consumer's death if they either repay the Reverse Mortgage or pay 95% of the assessed value of the home.

Your heirs won't inherit anything

Reverse Mortgages can be used for single family residence, condominiums, 2-4 unit properties, and manufactured homes.

Note: We do not accept single wide manufactured homes.

Reverse Mortgages can be used only for Single Family Residences.

We are not accepting applications for HECM loans in the states of IL, MA, and GA; HECM Fixed loans in the state of VT; and HECM Purchase in the state of TX.

Consumers with a reverse mortgage can lose their home if they fail to comply with the loan terms, which include, among other terms, paying property taxes, homeowner's insurance, maintaining the property, etc. The housing and residential financing offered herein is open to all without regard to race, color, religion, gender, sexual orientation, handicap, familial status or national origin. At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to the person and the person may need to sell or transfer the property to repay the proceeds of the reverse mortgage from the proceeds of the sale or transfer or the person must otherwise repay the reverse mortgage with interest from the person’s other assets. The lender will charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which the lender will add to the balance of the reverse mortgage loan. The balance of the reverse mortgage loan grows over time and the lender charges interest on the outstanding loan balance. The person retains title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately and may subject the property to a tax lien or other encumbrance or to possible foreclosure. Interest on a reverse mortgage is not deductible from the person’s income tax return until the person repays all or part of the reverse mortgage loan.

Shellis Edwards

NMLS 1608546

LOAN OFFICER

D: (615) 265-0306 | M: (615) 810-1201

shellis.edwards@swmc.com

611 Commerce St., Ste. 2609

Nashville, TN 37203

Branch NMLS 1878357

Sun West products and services have no affiliation with or endorsement from any government agency or body.

For Tennessee residents only. Shellis Edwards is licensed in TN. All products are subject to credit and property approval. Program terms and conditions are subject to change without prior notice. Other restrictions and limitations apply. The content here does not substitute for professional legal, securities, tax or accounting advice. Sun West Mortgage Company, Inc. (NMLS ID 3277) in Tennessee holds a Mortgage Company License (#109239), Mortgage Branch Authorization (#109239-113) for the ​​Nashville, TN Branch Office (NMLS ID ​​1878357) located at 611 Commerce St., Ste. 2609, Nashville, TN 37203, licensed by the Tennessee Department of Financial Institutions, Phone: (615) 253-6714. Please refer to https://www.swmc.com/disclaimer.php and www.nmlsconsumeraccess.org to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. In all jurisdictions, the principal (Main) licensed location of Sun West Mortgage Company, Inc. is 6131 Orangethorpe Avenue, Suite 500, Buena Park, CA 90620, Phone: (800) 453-7884.