Refinance Your Mortgage with Confidence
Reverse Mortgage Process
You can reach one of our Home Loan Specialist by choosing one of the following
- By Phone 1-877-787-7463 and choose the proper selection
- Fill out application form, and you will be directed to a Home Loan Specialist. They will reach out and set up a time to speak with you.
a. Every situation is unique which is why it is important to talk with one of our Home Loan Specialists to discuss your options and find out if a reverse mortgage is right for you.
HUD requires that you received third-party counseling from a HUD-approved agency. The counselor will ensure that you understand your reverse mortgage options. Counseling can be scheduled by calling a member of the National HECM Counseling Network or you can contact HUD directly.
One of our Home Loan Specialists will walk you through an application step by step and run your credit.
Your application will be processed by our team of experienced underwriters. They will compile a list of documents that will be necessary to underwrite your loan. It’s important to provide all the necessary documentation up front and in a timely manner so that the underwriter assigned to your loan can issue a Loan Approval and work towards getting your loan closed.
Following closing, the loan funds are disbursed, and the loan has been applied to any previous debts on the property. You begin receiving payments according to your selected payment option!
Let’s See if Reverse Mortgage Makes Sense for You
Do you need cash and you don’t qualify for cheaper sources of credit that would help you meet your financial needs?
You don’t want to sell your home or move in order to free up equity?
You plan on staying in your current home for the foreseeable future with no intention of selling.
You need to reduce your housing expenses and create long-term monthly income in order to pay bills?
Frequently Asked Questions about Reverse Mortgages
A reverse mortgage is specific type of home loan that allows you to trade equity in your home for cash now as a long term alternative to a home equity loan. The money is generally paid to you as a lump sum, as scheduled monthly payments, or through a line of credit.
A reverse mortgage will allow you use the equity you have worked for in your home to achieve greater financial freedom that you need today.
You can use the proceeds of the reverse mortgage for anything you choose, including paying off debts or unexpected life expenses.
Borrowers can either choose to enjoy the freedom of having no monthly payments with the understanding that, at loan maturity, proceeds from the sale of the home will be put towards repayment of the loan, or some borrowers choose to pay the interest on the loan each month in order to keep the balance from amortizing negatively.
Get The Loan That’s Right For You.
A traditional, fixed-rate mortgage is our most popular program for refinancing or a new home purchase
If you plan on staying in your home short-term or would like lower payments, an ARM loan program might be right for you
Prime Choice offers consistent and secure low rate Jumbo mortgage programs with the ability to borrow higher amounts
What Our Customers Are Saying
“Terry W. and Chrystal M. are knowledgeable about the mortgage industry. They have great customer service skills and down to earth people. They were awesome with answering questions and very professional at all times. I highly recommend Prime Choice Funding, Terry and Chrystal were great.”
John & Beth B.
“The staff at Prime Choice Funding Inc. are incredible! Very quick responses to questions as well as being extremely knowledgeable and professional. I can't express how appreciative we are to this company. Keith McKay and Bob Lin are the guys to go to hands down. They knew the game and swiftly and effectively got the documents they needed to get our loan through without a hitch. From start to finish our loan was smooth [with] all our questions answered along the way. ”
“Gary and Laura were upfront about the entire process and were always available to answer my questions. I really appreciate their willingness to help and get answers to my questions in a timely manner. I would definitely recommend Prime Choice Funding.”
“t is with utmost pleasure that I write this Review in acknowledgement of the incomparable service of Mortgage Specialist Zack Seither and Loan Processor Chrystal Mayhugh. They were never too busy to return my phone calls and emails. They always provided me with prompt and efficient service. They worked assiduously together [to ensure] a speedy and stress-free application and approval process. I will not hesitate to refer Zack and Chrystal to my friends, relatives, and to anyone looking to refinance or to obtain a mortgage.”
“Jeff Clark walked me through every detail of the process and the loan with more clarity and patience than anyone else...he left no stone un-turned. Once I got the rates, every lender I had talked to me thought it was too good to be true, and had no idea how he could offer such a deal. That too good to be true thing made me nervous, but I couldn't find anything wrong, so I proceeded. Bob Lin was an amazing help in getting all the paperwork through, and I could not be happier with the quality of service and incredible product that I received! Thank you both so much, this experience was an incredible surprise and a huge help for me!”
“rime Choice Funding did an exceptional job in handling all of my loan requirements and ensured that all communications were clear, concise and timely. When faced with questions about the process, Amanda Gray and Stephen Chiu were simply amazing in their first-class customer support! I could not be happier with the level of service received and I would eagerly consider working with Prime Choice Funding, specifically Amanda Gray and Stephen Chiu, to address any future funding or mortgage needs.”
“I would like to extend my deepest appreciation to Gary McPeak and Chrystal Mayhugh from Prime Choice Funding, Inc. They provided an excellent service and a painless process with my VA Loan refinancing. Both stayed in constant communication with me via phone or e-mail to ensure a quick and accurate process. Their professionalism and attention to detail help me stay abreast of the refinancing process from start to finish. I’m truly please with them and Prime Choice Funding. I would highly recommend Prime Choice Funding.”