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502 W. Cordova Rd.
Santa Fe, NM 87505

 
 

Contact Info:
John L Ruybalid, CSA
Vice President
Phone: 505-690-1029
Other: 800-758-6115
Fax: 505-984-8664

 

Santa Fe Reverse Mortgage Lender John Ruybalid offers Reverse Mortgages to Homeowners age 62 or older throughout the state of New Mexico.

Click Here To Use A Reverse Mortgage Calculator

FIXED RATE REVERSE MORTGAGES NOW AVAILABLE! CALL FOR DETAILS!

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Reverse mortgages are mortgage loans for homeowners 62 or older that do not require monthly mortgage payments as long as you live in your home. The interest, mortgage insurance premium and servicing fee are added to the balance each month, and are repaid when you sell the house, move out permanently or pass away.

COMMON MISCONCEPTIONS:

  • "The lender takes the house"
  • You retain full title to the property, the Reverse mortgage is a loan.
  • "I can be thrown out of my house"
  • You can stay in the home until a loan maturity event occurs (sell the house or move out permanently).
  • "I can owe more than my house is worth"
  • You never have to repay more than the house is worth.
  • "My heirs will be against it"
  • Experience demonstrates that heirs are in favor of Reverse Mortgages.

FHA - HECM (Home Equity Conversion Mortgage) - Available with monthly or annually adjustable interest rate options or a fixed rate.   The fixed rate option requires you to take all the loan proceeds at closing.  These government backed programs are by far the most popular reverse mortgages.

Why get a Reverse Mortgage?

1.  No repayment for as long as you occupy your home

2.  No taxes are paid on the cash from Reverse Mortgages

3.  No pre-payment penalty on HECM

4.  You retain title to the home

5.  You may sell your home at any time

Some basic information about reverse mortgages is available under the "FAQ" tab.

Also, I have links to many websites that offer publications about reverse mortgages under "Industry Links"below.

The majority of reverse mortgages I have done lately have paid off a regular mortgage, paid for some needed repairs and the rest has been put into a line of credit to draw on at a later date.

Reverse mortgages can also be used as an estate planning tool, such as buying life insurance or long term care insurance. It can also be used to reduce taxable IRA withdrawals. I would be happy to send a brochure to your financial advisor, "Reverse Mortgages as an Estate Planning Tool".

I have 22 years experience lending in Santa Fe. I would like to put this experience to work for you. Thank you for visiting my website!

Please call today for a free, no-obligation analysis based on your age, property value and current interest rates. 

Call John Ruybalid at (505)690-1029 or toll-free (800)758-6115 ext 236              http://www.senioradvisorweb.com/Authors/nystrom/SRAlogo.gif