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Tim Erwin

NMLS ID 236225

831-426-1642 Tim@Mortgage831.com

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Blog Image: Is Now a Good Time for a Reverse Mortgage?

Is Now a Good Time for a Reverse Mortgage?

As the COVID-19 pandemic has roiled stock markets over the past few months, many Americans in or nearing retirement may be worried about their investment portfolios. Without the possibility to earn more money, more retirees, seeing a reduction in their nest eggs, are turning to reverse mortgages to supplement those savings.  In fact, March saw a 25% increase in the number of scheduled reverse mortgage counseling sessions compared with a year earlier, according to the National Reverse Mortgage Lenders Association. As financial counseling classes are a prerequisite to obtaining reverse m...

May 20th, 2020 | Reverse Mortgages, Is Now a Good Time for a Reverse Mortgage?

Blog Image: How Long Does a Pre-Approval Letter Last?

How Long Does a Pre-Approval Letter Last?

Getting pre-approved before shopping for a new home is a smart idea, but what if you don’t find the right home quickly? How long does that pre-approval last? Pre-approval Defined Before going out with a real estate agent to look for the perfect property, it is wise to get pre-approved with a mortgage lender. This means allowing the lender to run your credit and take a look at your income and assets to determine how much mortgage funding you qualify for. A pre-approval gives you a top number for your house budget to help define your search.  It also gives you credibility wit...

May 6th, 2020 | Purchasing a Home, Preapproval, How Long Does a Pre-Approval Letter Last?