We can arrange for a Reverse Mortgage in New Brunswick for all urban areas and many rural areas in this Province. Because the reverse mortgage in New Brunswick is based on just home equity (and not your credit rating or income) then we must look at the value of your home very closely. We are really looking for a normal ‘home’ on a normal street in a normal city or town.
A traditional reverse mortgage is given when your minimum house value is $100,000 or more. If it is less than that then Gregory Stanley still has some private mortgage options to help you; but that loan amount would be more likely between $20,000 to $30,000.
You are eligible for a reverse mortgage in New Brunswick if you are homeowner who is 55 years old or older. We can provide New Brunswick reverse mortgages for houses, condos, and town houses.
We may lend less if the property is more than 1 hour away from a town or city. The best thing to do is contact us and ask! Gregory Stanley would be happy to speak to you – you will get all the answers you need within just a few minutes on the phone.
You can get pre-approved now; take the minimum now … and then in the future … say one year from now… just pick up the phone and just ask for more funds. Since you were already pre-approved we can just wire the money to your bank within a couple of days. It is that simple.
In our first discussion with you we will give you an information package. It will contain a close ‘ball park’ value for your property based on just your ‘postal code’ – our database system tells us values of residential home values right across the Province.
Canada Reverse Mortgage will tell you approximately how much money you can expect from a New Brunswick reverse mortgage. If you wish to go ahead then we will obtain an appraisal for you. And in that appraisal one of the most important items that we will look at is your property value and the marketability of the property. If it looks good to us … and to you … then we will advance funds to you.
Our goal is to help seniors access their home equity, enjoy the proceeds while not having to worry about making money repayments. The beauty of a reverse mortgage is that you don’t make monthly mortgage payments!
At all times we will tell you whether or not a reverse mortgage is the right product for you. There may be other options to consider and as mortgage brokers we can help you decide on the best choice for you. Gregory Stanley will always tell you whether a reverse mortgage in New Brunswick is right for you or not. If not, you’ll be told what type of mortgage would be best for you.