The Wells Fargo Reverse Mortgage Programs

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When you are considering a reverse mortgage, you will find three two main reverse mortgage programs available today. The first one is called the Home Equity Conversion Mortgage (HECM), insured by the federal government. The second reverse mortgage program available is the Fannie Mae Home Keeper (No longer available). The third of these reverse mortgage programs to consider is the Cash Account Advantage Plan, which is not currently available in all states. While your average reverse mortgage lender only offers one or two of these reverse mortgage programs, all three now two of these programs can be found through Wells Fargo.

There are advantages and benefits to each of these reverse mortgage plans, regardless of the lender you choose to use. However, the lender could affect your interest rate, as well as the level of customer service you will receive during the term of the loan. It is important to weigh out these facts before choosing which reverse mortgage lender to go with.

Wells Fargo reverse mortgage programs are insured by the FDIC. Additionally, Wells Fargo is very good at assisting you throughout the application process. This includes assistance in securing an acceptable credit counseling service to ensure you meet all federal requirements and guidelines.

When you apply for any of the Wells Fargo reverse mortgage programs, you are also investing in a company that has a sound financial system. Wells Fargo is and has been an insured financial institution in high standing for over one hundred years. Their security and privacy policies are well established, and they work hard to ensure they do everything they can to support you when you are considering any reverse mortgage programs.

While Wells Fargo wants to be your reverse mortgage lender, you will not feel pressured into applying for a loan that does not best fit your needs. This is an important consideration when choosing a reverse mortgage lender, especially a senior citizen on a fixed income. Be certain to choose carefully before going ahead with applying for any of the reverse mortgage programs available and, after careful consideration, make the best deal you can for your own financial peace of mind.