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We want to help you here in South Dakota. Give us a call so we can get started.
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How We Can Help
We can help you with a reverse mortgage loan in South Dakota. Let us explain the benefits and risks associated with Reverse Mortgage Loans.
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About Reverse Mortgages
The lender pays you a tax-free monthly income based in part by the amount of equity you have in your South Dakota home. The monies you receive go against your equity position and can even exceed your equity position at no risk to you. When you no longer live in the home the loan then becomes due. After the lender is paid back the outstanding loan amount plus interest, the remaining equity can be given to family or friends. The lender only collects what has been paid plus interest and nothing more.
Consumer Safeguards
Seniors in South Dakota are protected when they purchase a reverse mortgage loan product. The federal government has mandated laws to guarantee the homeowner will never lose their title or rights. Several steps in the loan process require education and financial counseling so the South Dakota senior can make the best informed decision for their situation. Many times a reverse mortgage loan is the right product and sometimes it's not.
-- Mortgage Rates by Bankrate.com --
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ByOwner Homes, For Sale By Owner
Current Mortgage Rates
Loan TypeRate+/-Last
30 yr fixed5.74%5.72%
15 yr fixed5.33%5.29%
5 / 1 ARM5.19%5.31%
30 yr fixed jumbo6.95%7.04%
5 / 1 jumbo ARM6.17%6.19%
-- RML TV --
Posted:
Fri, 09 May 2008

Title:
Understanding Reverse Mortgage Loan Fees
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