Increase your cash flow with a reverse mortgage loan

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WHAT IS A REVERSE MORTGAGE?

The product was designed to facilitate homeownership for older homeowners by allowing them to leverage the accumulated savings in their home – borrow against it – without incurring an additional monthly mortgage expense as they would with a traditional mortgage or line of credit.
As long as the borrower lives in the home they are not required to make any monthly principal or interest payments, regardless of the outstanding balance or home value. It is very important to remember that the homeowner is still responsible for paying property taxes and homeowners insurance and maintaining the home as a requirement of the reverse mortgage.
With a reverse mortgage, the borrower retains title or ownership of the home. The lender never, at any point, owns the home even after the last surviving spouse permanently vacates the property. The amount of funds that a borrower is eligible for depends on the person's age (or age of the youngest spouse in the case of couples), home value, interest rates and upfront costs. The older someone is, the more proceeds he or she may receive.
The borrower is not required to make principal or interest payments on the loan until the borrower departs the home, typically by moving, selling or when they pass. The non-recourse feature of the reverse mortgage means the borrower can never owe more than the value of the home* at the time the loan is repaid. The loan can also become due if the borrower does not comply with all of the mortgage loan terms.*There are some circumstances that will cause the loan to mature and the balance to become due and payable. Borrower is still responsible for paying property taxes and insurance and maintaining the home. Credit subject to age, property and some limited debt qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.

Payout Options

Lump Sum

Works well for immediate needs, such as paying off debts or making home improvements.

Monthly Cash Flow Payments

For borrowers who prefer to receive payments each month for the life of the loan or for a fixed period of time.

Line of Credit

Can help borrowers grow their proceeds with its growth rate feature.

Combination

Reverse mortgage offers a great deal of options; a combination of any of the other options is available.

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Interested to know the amount of money you could receive with a reverse mortgage?

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Our Certified Reverse Mortgage Professional®

Las Vegas-based Certified Reverse Mortgage Professional® Rick R. Rodriguez and his staff have over 15 years of industry experience. Their fields of knowledge range from sales management to production center management to loan and reverse mortgage origination.

They are committed to educating and raising awareness on the ins and outs of reverse mortgages in the Greater Las Vegas community and beyond.

Whether looking to buy a new home or pay off an existing mortgage, or just looking to educate yourself, your family members, or your clients, you can count on their knowledge.

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TESTIMONIALS

Learn how others have benefited from reverse mortgages.

Reverse Mortage
Calculator

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Rick R. Rodriguez

Rick R. Rodriguez

Rick R. Rodriguez has been in mortgage sales and management since 2003 and has held positions as loan originator, sales manager, production manager, and branch manager. He is well-versed in all types of mortgage products, and over his career, he has been recognized as an accomplished and trusted professional.

In 2004, after completing his first reverse mortgage transaction, Rick took the steps to focus primarily on this kind of loans and become a specialist in the industry. In February 2016, he became the first person in Southern Nevada and the 117th in the nation to obtain the designation of Certified Reverse Mortgage Professional (CRMP®).

As a CRMP®, Rick has extensive experience in all available reverse mortgage products, including the Home Equity Conversion Mortgage (HECM) refinance, HECM to HECM refinance, HECM for purchase and jumbo reverse mortgage. His clients benefit from his financial qualifications, meticulousness, effective communication skills, and years of experience working with reverse mortgages. He has the proven ability to explain the reverse mortgage to help others understand the process.

Pushed by his passion for reverse mortgages and his commitment to the industry, Rick spends his time working with homeowners, realtors, healthcare professionals, and various other individuals and organizations to lay out the role reverse mortgages have in real estate and retirement planning.

“A reverse mortgage should be, at the very least, considered by every homeowner over the age of 62. The flexibility that this program offers can be life-changing as well as an effective counterpart to retirement planning. I always welcome the opportunity to speak with clients about a reverse mortgage, and to help them determine if it may be the right option to meet their financial and housing needs.”

Rick is a Las Vegas native, and he holds a BSBA in Accounting from the University of Nevada Las Vegas. After graduating college, he worked for a local Certified Public Accounting firm before moving into the mortgage industry. He enjoys spending time with his loved ones, traveling, exploring the outdoors, playing various sports, and above all helping his wife raise their family.

Jesse Brewer

Jesse A. Brewer

Jesse A. Brewer (NMLS# 473359) is a veteran professional in the industry with extensive background in reverse mortgage origination, sales management, and production center management. He currently specializes in reverse mortgage origination at Resolute Bank working directly with homeowners, real estate professionals, financial specialists and healthcare providers to inform them of this type of loan’s flexibility and practical applications—helping homeowners improve their retirement economic outlook.

Jesse began his career in 2001 with a mid-sized Boston-area bank, before moving to Las Vegas in 2006 to focus on mortgage origination. In 2008, he joined a local reverse mortgage lender, where he became, in two years, the top-producing reverse mortgage loan officer.

Jesse then moved into sales management, a role which he held for several years, before becoming vice president, national sales manager, and reverse mortgage division head running Proficio Mortgage Ventures, LLC, based in Henderson, NV. As division head, Jesse used his innate leadership and team-building expertise to propel a small sales team into a national production center in the bank’s reverse mortgage division.

Jesse is dedicated to making the industry approachable by being an active speaker, educator, and relationship builder within the banking and mortgage community. Clients compliment his ability to simplify the reverse mortgage process with solutions that lead to life-changing outcomes.

“The reverse mortgage is a powerful financial tool that should be evaluated by anyone considering retirement options. I always look forward to helping clients understand the flexibility of the program and how it can be utilized to provide for a more comfortable standard of living through retirement.”

Jesse holds a degree in Business Administration Management from Massachusetts Fitchburg State University. He enjoys sports and outdoor activities with his wife, Virginia. He played football at FSC followed by playing rugby for over a decade, that included winning a National Championship in 2010.

 

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