Mortgage Blog

5 ways a reverse mortgage can help your retirement

Nice article on some of the basics of a Reverse Mortgage.  I would like to add that one of the key components of any strategy involving a Reverse Mortgage is balancing and keeping debt in control.  Debt, such as mortgage payments and credit cards that get out of control have a tendency to sap a retirees monthly fixed income and throw their retirement plan into turmoil.  Once you have achieved balance with your debt and income you can then focus on the savings and investment benefits.  For example, the  current growth rate that compounds annually on the untapped portion...

October 28th, 2016 | Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Social Security, Retirement security, supplemental retirement income, 5 ways a reverse mortgage can help your retirement

HECM Reverse Mortgage, the Statistics Surrounding their Use to Buy a New Home

The statistical significance of using a HECM for Purchase to buy a new home is almost nil relative to the prominent use of a traditional HECM Reverse for refinancing.  There are several reasons the HECM for Purchase is rarely used. Heavy down payment at 40-50% of the sales price.FHA does not allow any seller contributions as part of the sales contract.Sellers are also not allowed to make any repairs or other contributions to the transaction.Buyers must complete HUD CounselingCosts can be higher at max MIP insurance levelsThe opaque nature of the program often leaves realtors and buyers...

October 13th, 2016 | Retirement Planning, Reverse to Purchase Mortgage, Seniors, Reverse Mortgage, HECM Reverse Mortgage, HECM for Purchase, HECM Reverse Mortgage, the Statistics Surrounding their Use to Buy a New Home

The Paradox of Aging - Four Bucket Strategy

There is a lot of talk about aging, longevity, and the fear of running out of money.  There are people at every corner that will advise you to save more money and to prepare for illness, care needs, and ultimately unexpected longevity.  I personally don’t buy into saving an additional couple percent of your income, hiring the better advisor, or coming up with the ultimate annuity as the end all be all solution.   While these items may incrementally have significance over time as part of an overall plan, we should not lose sight of basic planning and wise decisions tha...

September 9th, 2016 | supplemental retirement income, Reverse Mortgage, Retirement Planning, Retirement security, Retirement income insecurity, HECM Reverse Mortgage, Financial Planning, Seniors, The Paradox of Aging - Four Bucket Strategy

Create Financial Flexibility in Retirement

A key retirement goal should always be financial security.  This is often much easier said than done.  It is easy to physically retire from work but are you also mentally retired?  In other words, being physically retired but mentally insecure over your financial situation or your monthly income is not constructive, although very common for retirees. Most often the first item on the list is housing.  The house that you have had for many years is often too large and much more costly then needed.  Downsizing is a nice way to reset your housing needs and expenses.&nb...

August 11th, 2016 | Reverse Mortgage, Retirement security, HECM for Purchase, supplemental retirement income, HECM Reverse Mortgage, Seniors, Create Financial Flexibility in Retirement

A Reverse Mortgage to Buy a Home? Here’s How

The HECM for Purchase vehicle is an excellent tool but people are generally immediately turned off due to the heavy down payment.  What they don’t realize is that it's more than just a home loan.  It’s a terrific financial management tool when it comes to diversification. Click here or the full WSJ article - A Reverse Mortgage to Buy a Home? Here’s How... George H. Omilan President-CEO - NMLS# 873983 Jefferson Mortgage Group LLC Located in Fairfax County - Helping seniors with Reverse Mortgages in Virginia, Maryland and Pennsylvania.Questions/Commen...

July 21st, 2016 | Reverse Mortgage, Seniors, HECM for Purchase, HECM Reverse Mortgage, A Reverse Mortgage to Buy a Home? Here’s How

Create your own Safe, Cost Effective Government-Insured Annuity today

When we hear the annuity pitch it starts out like this:  Put a lump sum down in your early fifties and when you turn 65 you will begin to receive monthly payments.  How much will I receive per month? Well that depends on the index, like the S & P 500 or which one you chose, and how much money you put down.  Then you have to read the fine print, park it on your kitchen table, and think about it.   Would an annuity be better than maybe buying ten blue chip dividend paying stocks and simply putting them aside and allowing them to grow over the same term?  Maybe an ...

July 18th, 2016 | supplemental retirement income, Retirement Planning, Seniors, reverse credit line, Reverse Mortgage, HECM Reverse Mortgage, Annuity, Government insured mortgage, lifetime income with a Reverse, Create your own Safe, Cost Effective Government-Insured Annuity today

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
FAX: 703-773-6946
NMLS: 935554

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


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