Advantages of Irvine Home Loans

Home mortgages provide you the opportunity to buy your dream home without investing all of your hard-earned money. Nowadays, FHA offers mortgage loans with minimal down payment. As there are different types of loans to choose from, you can even apply for a loan when your credit score is 580 or less than that.

There are several benefits of Irvine home mortgage and these are:

Security

There is security in having cash in the bank as you have a mortgage on your home in place of paying all cash. If any natural calamity strikes, your insurance will help you rebuild your home.

Investment opportunity

One can hardly define the value of opportunity but it is certainly real. If a once-in-a-lifetime business opportunity comes overnight, will you able to take advantage of it in case you purchase a property without a mortgage. By choosing a mortgage loan, you are able to save the money.

Mortgage interest deduction

The interest paid on your mortgage is deductible based on certain limits, on your tax returns. The value depends on the amount of your interest as well as your tax bracket.

After going through all the details, you might obviously want to apply for Irvine home loans. The professionals of Vance Long provide financial assistance to the ones who want to buy a home.

Address
3198 – F Airport loop Dr.
Costa Mesa, CA 92626
(714) 420-1997
vlong@uamco.com
Office
(949) 250-1300
Cell
(714) 420-1997
Fax
(949) 250-1959

Long “Happy” Life with Vance Long

Your journey from an adult to old age goes through various ups and downs. During your adulthood, you are always on the run to make money, buy a house, pay your children’s expenses and more so. However, post retirement, even the medical expenses, daily expenses and others often become a burden, which is difficult to carry.

For Independence

Considering the prevalence of nuclear families, a steady income to meet their regular expenses is mostly a cause of worry for retired people. Moreover, most senior citizens are reluctant to part with the house they have built with their savings; not to forget heart and soul. What’s more, over the span of fifteen, twenty or more years, they would have also made valuable additions to enhance the value of the home.

Reverse mortgage is therefore a great tool for senior citizens to reside in their “dream” home and earn for a living. The common questions that would pop up in the minds of the senior citizens would commonly be:

“What if a part of the mortgage amount is still unpaid for?”

“What if I require a bulk payment and not installments to meet my bills or medical expenses now?”

“Is my spouse allowed to reside in the same home after I die?”

Queries Answered

Reverse mortgage is an arrangement where the reverse mortgage lenders pay money in the form of a bulk amount or monthly instalments against the equity prevalent in the home. The remaining amount can only be retained by the lender after the death of the owner or in cases where the owner decides to vacate or move to a different place.

However, no reverse mortgage loan is a one-size-fit-all solution. Reputed reverse mortgage lenders like United American Mortgage Corporation focus on providing the best loan solution for the retired citizens in a way that they earn the maximum benefit from the equity in their homes.

For more on Reverse mortgage loans tailored only for you, visit them at:

vancelong.com