Sun West Cash Keeper Reverse Mortgage Rates and More

Sunwest a mortgage company located in California, has introduced their own proprietery reverse mortgage called the Cash Keeper. Seniors can use this loan for 2nd homes, oh my! Sunwest says, “This special type of home loan lets homeowners convert a portion of his or her home equity into cash providing for a secure financial future. Without selling the home, giving up title, or taking on a new monthly payment senior homeowners have the benefit of maintaining a lifestyle they have earned. The money from the reverse mortgage provides seniors with the financial security they need to fully enjoy their retirement years.”
Cash Keeper™ Features:

Based on 1-Month Libor Rate
6% lifetime cap, no monthly/annual cap

Owner occupied and 2nd homes are eligible
Payment Terms Available: Up front cash payment, credit line, monthly payment for a term, or a combination of the three
Two margin options: 3.25% and 3.50% (there is a .75% discount fee to receive the 3.250% margin)
Home purchase program available
Available balance grows at 5% per annum

Want to see current rates, simply add your projected closing date and away you go.

https://revmort.reversesoftonline.com/ReverseMortgage/jsp/extRateSheet.jsf

Home loan programs are available in California only. Multifamily, commercial and healthcare facilities loan program are available nationwide. All programs are subject to change without notice.
Sun West Mortgage Company, Inc., is a licensed real estate broker. Loans are made or arranged pursuant to California Department of Real Estate. CA DRE license #00793885 DRE Telephone: (916) 227 0931

Written by charles dennis on May 23rd, 2007 with comments disabled.
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