Meet our Reverse Mortgage Specialist
At Rubiola Mortgage, we are honored to serve as your Reverse Mortgage Specialists. We work tirelessly to help seniors living in Texas find the right solutions for their financial needs. If you’re 62 or older and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses, a reverse mortgage may be right for you.
Rubiola Mortgage is committed to helping residents throughout the entire state of Texas with all their reverse mortgage needs, including Austin, San Antonio, Corpus Christi, Houston, Kerrville, Waco, Laredo, Lubbock TX, El Paso, Dallas and Fort Worth. Trust is important to us so we will make the time to come to you, whenever possible, to meet face-to-face to provide the highest quality of service. Contact us today for more information on reverse mortgages in Texas!
Reverse Mortgage: a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills.
We pride ourselves on educating our clients on the Pro’s and Con’s of a reverse mortgage and understand that it is not right for everyone. Our goal is to help you, the client, make the right decision for your situation and will never sell a product to someone who is not a good fit.
Use the form below to get a quick quote from one of our Reverse Mortgage Specialists.
You can also read through our scenarios to see what a Reverse Mortgage could do for you.
Reverse Mortgage SCENARIO EXAMPLE #1
John Bosworth, Age 68
Home Value – $250,000
Home Equity – $210,000
Approximate Mortgage Balance – $40,000
John is a widower who lives at home alone. He would like to keep his home, but is having trouble making payments and meeting expenses. His monthly mortgage payment is $611. Even with both Social Security income and pension, he is still short by $187 per month…
John takes out a Reverse Mortgage for $142,496. He takes a lump sum of $40,000 and applies it to his existing mortgage and the balance in monthly payments of $681. After paying the mortgage off entirely, John’s monthly income rises to $1,291. That’s $611 per month for the mortgage payment, plus another $681 from the Reverse Mortgage.
Reverse Mortgage SCENARIO EXAMPLE #2
Craig Jenkins, age 82, and Sylvia Jenkins, age 79 (Reverse Mortgages are calculated using the age of the youngest home owner.)
Home Value – $375,000
Home Equity – $375,000
Craig and Sylvia both take medication to stay in good health. The cost of monthly meds and treatments makes it difficult for them to find the money needed to maintain the quality of life they once enjoyed.
They take out a reverse mortgage with the option of one lump sum totaling $218,419, or a monthly income of $1,495. The extra cash flow from their Reverse Mortgage more than covers their monthly cost for medication, and allows Craig and Sylvia more freedom with much less stress.