Blog
Jul
1,
2021
1,
2021
A Home Equity Conversion Mortgage (HECM) is typically promoted as a way to remain in a long-owned home despite the income limitations that might come with retirement. However, these loans, known as reverse mortgages, can also play a role for retirees looking to change their living situation, especially in light of the dramatic increases in […]
Jun
29,
2021
29,
2021
National Reverse Mortgage Lenders Association (NRMLA) has appointed Patty Wills, CRMP, National Retail Sales Manager for Reverse Mortgages at Open Mortgage, as co-chair of its newly-formed Diversity, Equity, and Inclusion (DEI) Committee. The DEI Committee’s goal is to strengthen the reverse mortgage ecosystem by promoting diversity, equity, and inclusion practices while building awareness of the […]
Jun
29,
2021
29,
2021
A Home Equity Conversion Mortgage (HECM) is a well-established tool for retirement-age homeowners looking to add more financial flexibility into their future. These loans, often referred to as a reverse mortgage, offer a way to capitalize on a home’s equity without having to part with the property. The eligibility requirements for a HECM include a […]
Jun
24,
2021
24,
2021
It seems more and more real estate markets are heating up. Interest rates remain low and the desire for more space and better function is still growing among buyers. Before you join the fray, spend a few minutes looking over these strategies to overcome the competition. 1. Pre-Qualify Step one to house shopping in any […]
Jun
22,
2021
22,
2021
A Home Equity Conversion Mortgage (HECM) is a useful lending tool for those over the age of 62. These reverse mortgages offer access to home equity to support retirement plans, with the repayment deferred as long as the borrowers remain in the home. Deciding if it’s the right tool for you requires careful consideration and […]
Jun
17,
2021
17,
2021
Paying off your mortgage is a major accomplishment AND an opportunity to leverage hard-earned equity to your advantage. In this video, Open Mortgage CEO and founder, Scott Gordon, discusses putting your equity to work. Some of the topics he covers: Reverse mortgages could provide you with access to funds for important daily expenses Downsizing might […]
Jun
15,
2021
15,
2021
If you’re currently shopping for a home, you might be noticing lots of competition and less inventory. In this video, our CEO and founder, Scott Gordon, discusses the importance of not rushing to buy the first home you can get. Instead, be patient during your home search. Some of the topics he covers: Watching for […]
Jun
10,
2021
10,
2021
There are lots of homebuyers in the market this summer, and with fewer homes for sale, it means lots of competition. If you’re a homeowner planning to make a change soon, contingencies are one aspect of buying and selling that you will need to be familiar with. Whether you’re evaluating an offer to buy your […]
Jun
8,
2021
8,
2021
A Home Equity Conversion Mortgage (HECM), or reverse mortgage, is unlike a traditional mortgage. While it’s still a loan, the program is limited to those over the age of 62. In addition, repayment can be deferred as long the property remains the primary residence of the borrower. However, a HECM does share some similarities with […]
Jun
4,
2021
4,
2021
The annual Scotsman Guide’s “Top Originators” list for 2021 has honored Open Mortgage, a multi-channel mortgage lender dedicated to empowering the dream of homeownership, with 10 of the company’s loan officers designated as the nation’s top-producing residential mortgage originators. As a coveted distinction and industry benchmark, the list’s longevity, verification process, and comprehensive scope has […]
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