Scott Underwood, Reverse Mortgage Alabama, & SMG Financial will do your comparison shopping for you with our top lenders and broker rates! Using this website, you can use our no hassle calculator and information for your FAQ's or start the Reverse Mortgage education process by mailing or e-mailing me to send you easy to read information, rates, steps, scenarios, and common questions. Then we can schedule your in-home or in-office appointment, when you’re ready.

People always ask me what I think about this product. Well my answer is that the (HECM) Home Equity Conversion Mortgage (Reverse Mortgage) has been around since 1989 and several of my family members have had a Reverse Mortgage for over 10 years. That's why in 2007 I left my family's Medicare insurance business to establish my Reverse Mortgage business. To date I have assisted hundreds of Alabama. My clients have been homeowners age 62 & above enjoy stress-free retirement by using the FHA Reverse Mortgage encompass central Alabama areas as Birmingham, Pelham, Alabaster, Hoover, Vestavia, and Mountain Brook.

I explain how Reverse Mortgages work, covering the pros & cons, and will always give you a straight forward answer!

Seniors entering retirement years faced with stress associated with fixed income can benefit from additional income.

With recent changes and more options available such as a line of credit, monthly payments for life, & lower closing costs (which investment planners like), education is the key! Financial Planners are looking at Reverse Mortgages because of their low interest rates, the lifetime payout, and "growing line of credit" which is currently around 4%!! Realtors are discovering the Reverse Mortgage purchase can help their clients get the home they really want!

 

 
 
Find the solution that fits your needs.

Reverse Mortgages

A reverse mortgage is a home loan that lets homeowners convert a portion of the equity in their home into cash. The equity built up over years of mortgage payments can be paid to you. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence.

 

Am I Eligible?

To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance
that can be paid off at the closing with proceeds from the reverse loan; and must live in the home.

 

How Much Do I Get?

The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.

 
 

Quick Quote

Quick Quote Image

 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
 
secure

Trusted. Experienced. Secure.