Mortgage Blog

Jumbo Reverse Mortgage Option

Low interest rates have, in one perspective, liberated older homeowners by giving them many choices to stay in their family homes with Jumbo Reverse Mortgages.  Some of the choices may include paying off existing mortgages and other debt, adding liquidity, or simply supplementing income for monthly expenses.  The Jumbo programs initially came out in 2014 but frankly were not very consumer friendly or attractively priced at that time for consumers. However, lower interest rates and general competition with government reverse mortgage programs have paved the way for more flexible guide...

October 16th, 2019 | Jumbo Reverse Mortgage, Age in Place, supplemental retirement income, downsizing, Jumbo Reverse Mortgage Option

Qualifying for a Mortgage with Assets

Federal rules from Dodd Frank have made it much tougher for borrowers outside the traditional channels, such as Fannie Mae, Freddie Mac, and the government loan programs, to qualify for mortgages. There are some interesting products for the self-employed that revolve around cash flow isolated from a business, but for many, if you don’t qualify on standard metrics and if you are not a self- employed business owner, you may simply be out of luck with no viable options to obtain a new mortgage. However, if you have lived within your means and saved to a point where you have a nice nest...

May 2nd, 2019 | Specialized Forward Mortgages, mortgage, Non QM, Asset Qualifer, Asset Based Mortgage, Traditional Mortgage, Qualifying for a Mortgage with Assets

A Jumbo Reverse Mortgage Success Story

A husband and wife in their late sixties are comfortably retired in a nice family home with the exception of mortgage payments.  Everyone they have spoken with recommends selling their home and downsizing but they reject that notion.  They like their home and they are very comfortable. If they didn’t have to deal with a mortgage payment and a recent home equity line payment, in their words, they would have perfection.  Their income is primarily derived from Social Security and what they can earn off of their investments.  Each month when the payments are due they f...

January 16th, 2019 | Jumbo Reverse Mortgage, lifetime income with a Reverse, Seniors, Retirement security, private label reverse mortgage, A Jumbo Reverse Mortgage Success Story

Self Employed Borrower Success Story

Over my entire career in the mortgage field, self-employed borrowers always stand out as the more challenging opportunities.  The self-employed borrower often finds themselves in a tug of war between their accountant’s guidance and the demands of the mortgage underwriter as it relates to qualifying income for a mortgage loan.  The accountant presses the deductions and works to minimize your taxable income with fancy terms such as “accrual basis” and the loan underwriter often demands pretty much the opposite.  At the end of the day, the self-employed borrower c...

November 9th, 2018 | Non QM, self-employed borrower, QM, Specialized Forward Mortgages, bank statement loan, mortgage, Mortgage Loan Process, Self Employed Borrower Success Story

The Jumbo Reverse Advantage over the HECM Government Reverse Program for Retirees

In the last six months, I have gone from adamantly avoiding the private label Reverse Mortgage program offerings for my clients to being an admirer and an outright endorser. The new Jumbo Reverse program looks nothing like the old one.  The primary reason for this has been the radical change in the HECM that has forced competition within the private market.  This is an example of pure capitalism at work.  Radical changes within the government market opened the door for the private market to enter and grab market share.  The changes were brought on by a desire for the indust...

August 22nd, 2018 | Jumbo Reverse Mortgage, HECM Reverse Mortgage, Eligibility for Reverse Mortgage, MIP, HECM Changes, The Jumbo Reverse Advantage over the HECM Government Reverse Program for Retirees

Credit Score Rewards with Specialized Jumbo Loans

In today’s market, liquidity is often key and liquid investments have been working as the economy has gained steam after the enactment of tax reform and regulatory rollbacks.  However, this does not necessarily make it easier for anyone to get a new mortgage loan.  Federal regulations stemming from the crisis have made it much harder to qualify, based on the ability to repay rule (ATR Rule), for many people.  In spite of this regulation, there is one area of the market that still offers plentiful rewards for those with high credit scores and strong qualifying fundamentals....

July 16th, 2018 | Jefferson Mortgage Group, Specialized Forward Mortgages, Jumbo Mortgage Loan, Credit Score Rewards with Specialized Jumbo Loans

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

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Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.