This document provides information about reverse mortgages presented by Ken Metcalf of American Pacific Reverse Mortgage Group. It outlines key benefits like eliminating monthly mortgage payments and providing a line of credit. It discusses how reverse mortgages work, qualification criteria, payment options, and common questions. Client testimonials praise the thoroughness, responsiveness, and seamless processing by American Pacific Reverse Mortgage Group.

1. ““AA BBeetttteerr LLiiffee””
HHUUDD//FFHHAA SSeenniioorrss LLooaann
PPrrooggrraamm
Presented by
Ken Metcalf
Senior Reverse Mortgage Consultant
of
American Pacific Reverse
Mortgage Group

2. UUnnddeerrssttaannddiinngg tthhee RReevveerrssee
MMoorrttggaaggee

3. KKeeyy BBeenneeffiittss
Can eliminate a borrowers current
monthly mortgage payment.
Can provide a line of credit for future
periodic use.
Can provide a stable supplemental
monthly income.
FHA insured.
Credit is not considered.

4. WWhhyy DDoo aa RReevveerrssee MMoorrttggaaggee??
Current retirement income is not adequate for
desired standard of living.
High costs of medical insurance,
healthcare and medications.
Desire to travel and do things during
retirement.
Excellent means for accessing home equity
without the monthly payments to diminish
lifestyle.

5. HHooww DDooeess tthhee RReevveerrssee MMoorrttggaaggee
WWoorrkk??
Basically, the interest on the borrowed
amount accumulates and is added to the
principal. Both the accumulated interest and
principal are paid back from the sale of the
home at a later date.
Unlike a traditional mortgage the borrower
has no responsibility to make monthly or
periodic payments as with a traditional
mortgage.
No repayment is required as long as
borrowers occupy the property. However, if
borrowers repay any portion of the principal,
it will be available for them to borrower again.

6. QQuuaalliiffiiccaattiioonn CCrriitteerriiaa
Borrower's must be at least 62 years old.
Home must be titled in borrowers name
or in their trust.
Home must qualify under HUD
standards.
Home must have adequate equity based
on HUD established county limits.

7. QQuuaalliiffyyiinngg DDeettaaiillss
Counseling Certificate is required by law.
– This is performed through a non-profit company.
Counseling takes about 45 minutes and can be
done in person or over the phone.
Home will have a HUD appraisal.
May require hold-back for maintenance
issues.
Will require a structural engineer if
manufactured home on permanent
foundation.*
*Most, if not all, of the above items may be included in closing
costs.

8. QQuuaalliiffyyiinngg EExxaammppllee
 Age 89
 Home Value
$350,000
 HUD Value Limit
$417,000
 Old Mortgage $ -0-
 HUD Maximum Loan
Limit $297,850
 Monthly payment of
$2828 or LOC of
$280,083
 Age 72/74
 Home Value $350.000
 HUD Value Limit
$417,000
 Old Mortgage $101,000
 HUD Maximum Loan
Limit $250,250
 Elimination of $455.04
mortgage payment and
a LOC for $129,058.
Additional funds may be available in the future
through the streamline refinance process or changes in
the HUD county lending limits.

9. PPrriimmaarryy TTyyppeess ooff RReevveerrssee
MMoorrttggaaggee LLooaannss
Annual Adjustable rate
Monthly Adjustable rate
The amount of principal available to a
borrower is based on the type of
mortgage a borrower chooses, age and
HUD maximum limits. The monthly
adjustable typically provides the
greatest amount of money and is the
most popular choice among borrowers.

10. PPaayymmeenntt OOppttiioonnss
1. Lump sum to pay off an existing
mortgage or for any other reason such
as purchasing a new car.
2. Line of Credit similar to an equity line.
3. Monthly fixed payment.
4. Combination of 1, 2 or 3.
Borrower can change payment options monthly if
they choose for a small fee, typically $20 per
change.

11. MMoorree aabboouutt tthhee LLiinnee ooff CCrreeddiitt
If the borrowers choose the LOC option, they will
find that the LOC grows annually. The growth
rate is the interest rate charged during the loan.
This means that every year the LOC increases
allowing more funds to be available to the
borrowers in future years.
For example, a typical reverse mortgage may
have a 6.5% interest rate during year 1. At the
end of the year a $150,000 LOC would then be at
$159,750 allowing borrowers to access a little
more of their equity.
The fixed monthly payment option already
factors in an anticipated growth rate.

12. LLiinnee ooff CCrreeddiitt IIlllluussttrraattiioonn
Annual Growth Rates
$800,000
$600,000
Amount
$400,000
$200,000
$ $-
Years 1
4
7
10
13
16
19
Home Value
Growth 4%
LOC Growth at
6.5%

13. DDrraawwbbaacckkss ttoo RReevveerrssee
MMoorrttggaaggee
Equity in home will diminish with each
passing year as interest accumulates. This
means less equity in your estate to be passed
on to heirs.
Closings Costs include a 2% loan fee,
mortgage insurance fee of 2% payable to the
federal government, and other normal closing
costs.
Interest is not tax deductible until home is
sold or paid off.
For most, the benefits far out-weigh the
drawbacks.

14. CCoommmmoonnllyy AAsskkeedd QQuueessttiioonnss
Do I lose my home once I do a Reverse
Mortgage? No, it is still your home and you can
sell or refinance at any time. You are still
responsible for paying your property taxes,
homeowners insurance and normal
maintanence.
Do I have to live in the home? You must live in
the home for 6 months out of the year. If you
don’t live in the home for 12 consecutive months
or more you may be required to sell.
Can I rent out the home? No, you cannot convert
the home to a rental property.

15. MMoorree qquueessttiioonnss
What happens to my remaining equity when I
die or sell? The remaining equity goes to your
estate just as it would with a normal
mortgage.
What happens if the accumulated principal &
interest is more than the value of the home
when it is sold? The FHA insurance pays the
difference. You or your estate have no
responsibility to pay any loss. The reverse
mortgage is a non-recourse mortgage. Any
other assets you may have are protected
because of the FHA insurance.

16. Thank you for your time
I hope you have a better
understanding of
Reverse Mortgages

17. KKeenn MMeettccaallff
Senior Reverse Mortgage
1-800-266-9010
E-mail: ken ken@kenmetcalf.com
Website: kenmetcalf.com
Contact me to answer any questions

18. Hey! One more thing
Don’t go away yet
This is important

19. WWhhyy CChhoooossee……

20. AAMMEERRIICCAANN PPAACCIIFFIICC RREEVVEERRSSEE
MMOORRTTGGAAGGEE GGRROOUUPP

21. AAmmeerriiccaann PPaacciiffiicc RReevveerrssee MMoorrttggaaggee GGrroouupp
iiss tthhee lleennddeerr ooff cchhooiiccee
To unlocking your home equity

22. WWee aarree mmeemmbbeerrss ooff……

23. KKeenn MMeettccaallff
SSeenniioorr RReevveerrssee MMoorrttggaaggee CCoonnssuullttaanntt
AAmmeerriiccaann PPaacciiffiicc RReevveerrssee MMoorrttggaaggee GGrroouupp
NNMMLLSS ##223355007788//115500559900//11885500
CCAA BBRREE## 0000227766558811//0011221155994433
LLiicceennsseedd bbyy tthhee DDeeppaarrttmmeenntt ooff
BBuussiinneessss OOvveerrssiigghhtt uunnddeerr tthhee CCRRLLMMAA
33000000 LLaavvaa RRiiddggee CCiirrccllee,, SSuuiittee 229900,, RRoosseevviillllee,, CCAA 9955666611
MMaaiill AAddddrreessss 44009955 SSiillvveerr SSttrreeeett,, RRoocckklliinn,, CCAA
11--880000--226666--99001100

24. WWee hhaavvee llooccaall rreepprreesseennttaattiivveess wwhhoo ccaann mmeeeett
wwiitthh yyoouu iinn yyoouurr hhoommee
WWee aarree aallwwaayyss aavvaaiillaabbllee ffoorr aannyy llooccaall aassssiissttaannccee

25. WWee aarree
eexxppeerriieenncceedd aanndd
ddeeddiiccaatteedd

26. WWee ssppeecciiaalliizzee eexxcclluussiivveellyy iinn
oorriiggiinnaattiinngg FFHHAA RReevveerrssee MMoorrttggaaggeess

27. WWee wwoorrkk ““ hhaannddss oonn”” ttoo mmaakkee ssuurree yyoouurr
rreevveerrssee mmoorrttggaaggee iiss ccoommpplleetteedd aass qquuiicckkllyy
aanndd aass eeffffiicciieennttllyy aass ppoossssiibbllee

28. We directly handle aanndd ccoonnttrrooll aallll aassppeeccttss ooff
tthhee llooaann pprroocceessssiinngg ffuunnccttiioonnss ffrroomm tthhee
aapppplliiccaattiioonn ttoo cclloossiinngg
Our processing time frame is typically the
fastest in the industry

29. WWee aarree ffiirrmm iinn mmaaiinnttaaiinniinngg oouurr ppoolliiccyy
ooff rreeqquuiirriinngg……
NNOO uuppffrroonntt oouutt ooff ppoocckkeett ffeeeess!!

30. HHUUDD aanndd FFaannnniiee MMaaee
hhaavvee ccoonnssiisstteennttllyy rreeccooggnniizzeedd AAmmeerriiccaann
PPaacciiffiicc RReevveerrssee MMoorrttggaaggee GGrroouupp ffoorr oouurr
lleeaaddeerrsshhiipp iinn tthhee rreevveerrssee mmoorrttggaaggee
iinndduussttrryy,, aass wweellll aass ffoorr oouurr iinntteeggrriittyy,,
kknnoowwlleeddggee aanndd eexxppeerriieennccee..

31. WWhhaatt hhaavvee oouurr cclliieennttss ssaaiidd
aabboouutt uuss……

32. DDeeaarr KKeenn,,
JJuusstt aa mmeessssaaggee ttoo rreeppeeaatt hhooww mmuucchh
wwee aapppprreecciiaatteedd yyoouurr ttiimmee aanndd ccoonncceerrnn
oovveerr oouurr iinnttrroodduuccttiioonn ttoo,, aanndd yyoouurr
ffoollllooww ––tthhrroouugghh oonn oouurr RReevveerrssee
MMoorrttggaaggee aarrrraannggeemmeennttss..
YYoouurr tthhoorroouugghhnneessss iinn wwaallkkiinngg uuss
tthhrroouugghh aallll tthhee ddeettaaiillss aanndd yyoouurr
iimmmmeeddiiaattee rreessppoonnsseess ttoo oouurr qquueessttiioonnss
wwhheetthheerr aasskkeedd oorr

33. faxed to you gave uuss uunnssuurrppaasssseedd
ccoonnffiiddeennccee iinn yyoouu..
AAggaaiinn,, tthhaannkk yyoouu ffoorr yyoouurr ccoonncceerrnn aanndd
aatttteennttiioonn ttoo uuss.. IItt wwaass oouurr pplleeaassuurree ttoo
mmeeeett wwiitthh yyoouu aanndd wwoorrkk wwiitthh yyoouu..
SSiinncceerreellyy,,
MMrr.. aanndd MMrrss.. HHeerrbbeerrtt SS..

34. My mother, Wilma RR..,, aanndd II wwaanntt ttoo
tthhaannkk yyoouu ffoorr yyoouurr aassssiissttaannccee aanndd
ppaattiieennccee iinn ccoommpplleettiinngg hheerr rreevveerrssee
mmoorrttggaaggee..
EEvveenn tthhoouugghh tthhee pprroocceessss wwaass
iinniittiiaatteedd iinn nnoorrtthheerrnn CCaalliiffoorrnniiaa aanndd
tthheenn hhaadd ttoo bbee ccoommpplleetteedd iinn ssoouutthheerrnn
CCaalliiffoorrnniiaa,, yyoouu aanndd yyoouurr aassssoocciiaatteess
hhaannddlleedd tthhee ddeettaaiillss sseeaammlleessssllyy..

35. She received funding ddiirreeccttllyy ttoo hheerr
bbaannkk aaccccoouunntt rriigghhtt oonn sscchheedduullee aanndd
wwiitthh tthheessee mmoonntthhllyy iinnssttaallllmmeennttss hheerr
ccaarree aanndd sseeccuurriittyy aarree gguuaarraanntteeeedd..
TThhaannkk yyoouu aaggaaiinn,,
DDaavviidd RR..

36. My home, un-mortgaged, wwaass 3388 yyeeaarrss
oolldd aanndd iinn nneeeedd ooff ssoommee uuppggrraaddiinngg..
AAtt 7777,, II wwaass iinn nneeeedd ooff ssoommee ffiinnaanncciiaall
uuppggrraaddiinngg.. TThhee RReevveerrssee MMoorrttggaaggee
aappppeeaarreedd ttoo ffiitt mmyy ssiittuuaattiioonn aanndd aafftteerr
rreevviieewwiinngg tthhrreeee pprrooppoossaallss II cchhoossee KKeenn
MMeettccaallff..
MMyy eexxppeerriieennccee wwiitthh KKeenn wwaass

37. very professional aanndd eevveerryytthhiinngg
cclleeaarrllyy eexxppllaaiinneedd aanndd eevveerryy qquueessttiioonn
aannsswweerreedd.. II cchhoossee aa lliinnee ooff ccrreeddiitt aanndd
aa mmooddeesstt mmoonntthhllyy ccaasshh wwiitthhddrraaww.. II
hhaavvee uusseedd tthhee ccrreeddiitt lliinnee ttoo mmooddeerrnniizzee
tthhee mmaasstteerr bbaatthhrroooomm,, iinnssttaallll iinnssuullaatteedd
wwiinnddoowwss aanndd rreeppllaaccee tthhee 3388 yyeeaarr ––oolldd
ffuurrnnaaccee aanndd AA//CC uunniittss..
MMyy mmoonntthhllyy ssttaatteemmeenntt cclleeaarrllyy ddeeffiinneess
wwhheerree eevveerryy ddoollllaarr iiss

38. accounted for-loan bbaallaannccee,, ccuurrrreenntt
iinntteerreesstt,, ccrreeddiitt lliinnee bbaallaannccee aanndd tthhee
mmoonntthhllyy iinnccrreeaassee iinn mmyy nneett
pprriinncciippaall lliimmiitt..
II aamm aa hhaappppyy cclliieenntt ooff KKeenn aanndd
wwoouulldd rreeccoommmmeenndd hhiimm ttoo aannyyoonnee
tthhiinnkkiinngg aabboouutt aa RReevveerrssee MMoorrttggaaggee..
RRoobbeerrtt CC..

39. KKeenn
MMyy wwiiffee aanndd II aapppplliieedd ffoorr aa rreevveerrssee
mmoorrttggaaggee MMaayy ooff 22000033.. IItt wwaass tthhee bbeesstt mmoovvee
wwee eevveerr mmaaddee.. MMyy wwiiffee iiss 8811 aanndd II aamm 8822..
WWee ffoouunndd tthhaatt oouurr ffiixxeedd iinnccoommee wwaass
ffaalllliinngg aa lliittttllee sshhoorrtt ooff mmeeeettiinngg wwiitthh oouurr
ffiinnaanncciiaall nneeeeddss aanndd tthhaatt oouurr ssaavviinnggss wwoouulldd
bbee ddeepplleetteedd iinn aa sshhoorrtt ttiimmee iiff wwee ddiidd nnoott
ffiigguurree aa wwaayy ttoo bbrriinngg iinn ssoommee eexxttrraa iinnccoommee..
WWee oowwnneedd aa hhoommee bbuutt wwaass ssttiillll mmaakkiinngg
ppaayymmeennttss oonn oouurr hhoommee llooaann..

40. It only took a short lleennggtthh ooff ttiimmee ttoo
aappppllyy,, hhaavvee oouurr hhoommee aapppprraaiisseedd aanndd llooaann
aapppprroovveedd aanndd wwee hhaadd tthhee ffuunnddss aavvaaiillaabbllee..
NNooww wwee nnoott oonnllyy aarree ffrreeee ooff hhoouussee
ppaayymmeennttss bbuutt hhaavvee tthhee ffiinnaanncciiaall ffrreeeeddoomm ttoo
uussee tthhee mmoonneeyy iinn aannyy wwaayy wwee ddeessiirree,, aanndd
iitt’’ss ttaaxx ffrreeee..
SSoo II ssaayy ttoo mmyy ffeellllooww sseenniioorr 6622 oorr oovveerr ttoo
ggoo ffoorr tthhee gguussttoo aanndd eennjjooyy yyoouurrsseellff,, iinnqquuiirree
iinnttoo tthhee RReevveerrssee MMoorrttggaaggee PPrrooggrraamm..
TThhaannkk yyoouu eevveerr ssoo mmuucchh,, MMaarrttyy aanndd RRuutthh

41. Happy Holidays ttoo AAllll,, wwhhoo mmaaddee
mmyy lliiffee ssoo mmuucchh eeaassiieerr.. II aamm
eennjjooyyiinngg tthhee rreevveerrssee mmoorrttggaaggee aanndd
bbrraaggggiinngg ttoo aallll..
TThhaannkk yyoouu aaggaaiinn!!
SSyyllvviiaa TT..