SimpleEquity Reverse Mortgage
Countrywide's SimpleEquity Reverse Mortgage
offers access to more equity in high value homes.
For Homeowners with high-value homes, a SimpleEquity Reverse Mortgage can provide a larger loan amount than a traditional Reverse Mortgage. In addition to providing access to more home equity, other benefits include:
- No origination fee and no closing cost options available for higher initial loan draw amounts
- No mortgage insurance premium
- Lower monthly servicing fees
Features and Benefits
- Virtually no maximum home value - no maximum loan limit
- No equity (or appreciation) sharing - and no maturity fee
- Lifetime interest rate cap
- Loan is non-recourse (no personal liability to you or your heirs)
SimpleEquity Options
This product provides a higher loan amount. (The minimum line-of-credit amount is $50,000 - there is no minimum draw.)
- Benefit Options
- Lump Sum
- Term
- Modified Term
- Line-of-Credit
- Combination of any of the above
- Origination Cost
- Origination Fee - 2% of the 'initial advance limit', with a $2,500 minimum
- Closing Costs - borrower is responsilbe for all third party costs
We will be pleased to provide more specific information about the financial benefits of a Countrywide SimpleEquity Reverse Mortgage. Please give us a call, or simply click here for your complimentary benefit analysis today.
Countrywide Bank, FSB and Countrywide Home Loans, a Division of Countrywide Bank, FSB are Equal Housing Lenders. © 2008 Countrywide Financial Corporation. Trade/service marks are the property of Countrywide Financial Corporation and/or its subsidiaries. Countrywide Home Loans, Inc. is headquartered at 4500 Park Granada, Calabasas, CA 91302. Arizona Mortgage Banker License Number BK8805; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; Georgia Reg. #5929; Illinois Residential Mortgage Licensee; Massachusetts Mortgage Lender License No. ML 1623; this is not an offer to enter into an interest rate lock-in agreement under Minnesota law; Licensed by the New Hampshire Banking Department; New Jersey (818) 313-6526, Licensed Mortgage Banker, NJ Department of Banking and Insurance; Licensed Mortgage Banker, NYS Banking Department; Registered with the Pennsylvania Banking Department; Rhode Island Lender’s License. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. All rights reserved.
