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Today's Community Review:
September 26, 2020
Balmy, quaint and sedate, Jupiter is on the southeastern Florida coast and is the site of Jupiter Bay, an all ages condominium community that is popular with "snowbirds" and second home owners. Lush and well-manicured, it has a lake, two swimming pools, a poolside restaurant and a path to the beach.
Previous Daily Reviews (More Below):
Bonita Springs, Florida
Pretty Bonita Springs is on Florida's southwestern coast and is the location of Lighthouse Bay at The Brooks, a lakefront community with a private beach, five swimming pools, tennis courts, a nature preserve and low maintenance waterfront homes.
Best Mortgage Lenders
Homeowners approaching retirement often have enough equity to sell their current home and buy a less expensive one outright. Some people, though, want to keep the cash from their home sale and finance a new home, while others might need a small or short-term mortgage to cover the gap between their available cash and a home's purchase price. If you do need a mortgage, it is important to choose the right one. Here are three of the best lenders.
Better Mortgage - According to Nerd Wallet, this mortgage company charges no commission fees and has no application, underwriting or origination fees. They also close most loans within 21 days, two times faster than the national average.
Quicken Loans - This mortgage company has a five star rating in the 2019 J.D. Power U.S. Primary Mortgage Origination Satisfaction Study and an A+ rating with the BBB. Quicken Loans has processed more than two million mortgages.
Vylla Loan - This mortgage lender has multiple loan programs for people with less than steller credit and considers alternative credit data, such as bank statements and rent payments.
Spring Lake is in south central North Carolina and is the site of Anderson Creek Club, a large, lush master-planned development with a 55+ neighborhood. Single family homes are for sale and amenities include an elegant clubhouse, a golf course, tennis courts, a croquet field and more.
Not far from Myrtle Beach on the northern South Carolina coast, Conway is the site of Lakeside Crossing, a nice 55+ manufactured home community with a clubhouse, a heated swimming pool, a lakeside beach, an activities director and more in a quiet setting.
Woodburn is south of Portland in Oregon's beautiful Willamette Valley and is the setting for Woodburn Estates, a settled, quiet 55+ community with a golf course, a golfing club, a clubhouse, a restaurant, a good menu of activities and more.
Outside of Phoenix in southern Arizona, Peoria is the setting for Trilogy at Vistancia, a handsome 55+ enclave within a larger, all ages development. Homes are single level, and amenities include a golf course, clubhouses, a center for higher learning and more.
Deerfield Beach is on the southeastern Florida coast and is the setting for Century Village, a large, established 55+ condominium community with a wide range of prices. Amenities include two clubhouses, 16 swimming pools, a golf course and more.
Aubrey is about an hour outside of Dallas/Fort Worth in north Texas and is the location of Isabella Village at Savannah, an intimate 55+ enclave with single level, single family brick homes, a private clubhouse, a three story fitness center, dog parks and more.
How to Qualify for a Reverse Mortgage
All borrowers must be at least 62 years old. The older you are, the more funds you can receive from a reverse mortgage.
You must live in your home as your primary residence for the length of the reverse mortgage. You must own your home outright or have at least 50% equity.
You must meet with a HUD-approved reverse mortgage counselor prior to applying for a reverse mortgage to learn exactly how a reverse mortgage works and how much it costs (fees, etc.). The counseling session is to ensure that the borrow completely understands how a reverse mortgage works.
Single family homes, manufactured homes built after 1976, condominiums that are FHA-approved and town homes are all eligible for a reverse mortgage.
You must show the financial ability to meet your loan obligations, including paying property taxes, insurance and HOA fees if applicable. You must also maintain the home.
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