1/17/2024 0 Comments Mortgage calculator maui![]() ![]() Maui is a major tourism destination and its visitors drive the vast majority of its economic activity. "The Valley Isle", Maui is known for its mountainous landscape, including its famed high point atop Mount Haleakal. Of the eight Hawaiian Islands, Maui is the second largest of the islands by land area, and with just over 150,000 residents based on recentĬensus counts, it is the third largest in terms of its population count. Everything from the elimination of the existing mortgage payments to the line of credit that grows that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan for the future as well. ![]() ![]() Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool, and many are now seeking the reverse mortgage to augment their retirement plans and not so much as a mortgage of last resort. It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program. Only a seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values, so not all borrowers are better served with the jumbo programs. We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve well. (ARLO™) were part of the team that wrote and sold the first fixed-rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well. The owners and management of All Reverse Mortgage, Inc. (ARLO™) originates in Maui and closes both refinance loans, where borrowers already own their home and are looking to either pay off their existing loan and have no more monthly mortgage payment, utilize their equity for other purposes if they have no existing loan, or possibly a combination of both. The HECM is HUD's acronym for their reverse mortgage loan.Īll Reverse Mortgage, Inc. (ARLO™) is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or "Heck-um"). Purchase Reverse Mortgages Closed Last 12 MonthsĪll Reverse Mortgage, Inc. ![]()
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