OurTime Reverse Mortgage

5.0(
1
)

Mortgage Companies

About us

HECM aka: Reverse Mortgage is a financial tool for folks age 62+ that want to use the equity in their home without having to make ever make monthly principal or interest payments. Do you dream about moving closer to family, downsizing or just finding a place that better meets your lifestyle needs? An FHA loan for folks who are 62 and older which allows you to purchase your home by making a one-time down payment and never make a monthly mortgage payment. Hi, I’m Bret Doman, your North Carolina HECM for purchase specialist and reverse mortgage expert and I help folks 62 and older enjoy a better-quality retirement by helping them minimize their risk and maximize their resources. Like my Mom; she did a HECM for purchase back in 2012 and that’s the loan I’m going to tell you about today. The loan was created by HUD in 2009 in part of the House and Economic Recovery Act. And it’s a great alternative to paying cash or using traditional financing. Conventionally, you’d have to pay all cash to avoid having a monthly mortgage payment, but with the HECM for purchase, you can simply put down between 30%-50% of the purchase price and never make a monthly mortgage payment. So, how does it work? The HECM for purchase is like any other loan, except that the loan doesn’t become due until the last remaining borrower eventually either sells or leaves the home. To qualify, one person must be at least 62 or older and HUD requires that you complete a mandatory counseling session prior to application. The reason for the HUD counseling is to make sure that this loan is right for you and I always suggest you discuss it with your family. With traditional financing, your loan balance goes down all the time because you’re making monthly payments. Using HECM for purchase, your loan balance increases all the time because you’re not making payments. One of the great things about the HECM for purchase is that it’s a non-recourse loan. Learn more at: ourtimereversemortgage.com/

Business highlights

17 years of trusted experience

Services we offer

HECM for purchase & Reverse Mortgage

Services we don't offer

Foward Mortgages:)

Amenities

Free Estimates
Yes

Accepted payment methods

American Express
Check
Discover
MasterCard
PayPal
Visa

Reviews

5.01 Reviews
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Number of StarsImage of DistributionNumber of Ratings
5
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4
0%
3
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2
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1
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Rating CategoryRating out of 5
quality
5.0
value
5.0
professionalism
5.0
responsiveness
5.0
punctuality
5.0
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Showing 1-1 of 1 reviews
Diane B.
08/2017
5.0
mortgage broker
  + -1 more
Bret was very courteous and professional and guided me through the entire process.
Description of Work: Bret assisted me and guided me through the process of obtaining a loan to build my dream home.
Rating CategoryRating out of 5
quality
5.0
value
5.0
professionalism
5.0
responsiveness
5.0
punctuality
5.0
Yes, I recommend this pro

    Contact information

    3852 N Croatan HWY, Kitty Hawk, NC 27949

    https://ourtimereversemortgage.com/

    Service hours

    Sunday:
    8:00 AM - 6:00 PM
    Monday:
    8:00 AM - 6:00 PM
    Tuesday:
    8:00 AM - 6:00 PM
    Wednesday:
    8:00 AM - 6:00 PM
    Thursday:
    8:00 AM - 6:00 PM
    Friday:
    8:00 AM - 6:00 PM
    Saturday:
    8:00 AM - 6:00 PM

    Licensing

    Bonded
    Insured
    Licensed*
    State Contractor License Requirements

    All statements concerning insurance, licenses, and bonds are informational only, and are self-reported. Since insurance, licenses and bonds can expire and can be cancelled, homeowners should always check such information for themselves. To find more licensing information for your state, visit our State Contractor License Requirements page.

    *Contact business to see additional licenses.

    Service Categories

    Mortgage Companies

    FAQ

    OurTime Reverse Mortgage is currently rated 5 overall out of 5.

    Sunday: 8:00 AM - 6:00 PM

    Monday: 8:00 AM - 6:00 PM

    Tuesday: 8:00 AM - 6:00 PM

    Wednesday: 8:00 AM - 6:00 PM

    Thursday: 8:00 AM - 6:00 PM

    Friday: 8:00 AM - 6:00 PM

    Saturday: 8:00 AM - 6:00 PM

    OurTime Reverse Mortgage accepts the following forms of payment: American Express,Check,Discover,MasterCard,PayPal,Visa
    Yes, OurTime Reverse Mortgage offers free project estimates.
    No, OurTime Reverse Mortgage does not offer eco-friendly accreditations.
    No, OurTime Reverse Mortgage does not offer a senior discount.
    No, OurTime Reverse Mortgage does not offer emergency services.
    No, OurTime Reverse Mortgage does not offer warranties.
    OurTime Reverse Mortgage offers the following services: HECM for purchase & Reverse Mortgage
    Foward Mortgages:)

    Contact information

    3852 N Croatan HWY, Kitty Hawk, NC 27949

    https://ourtimereversemortgage.com/

    Service hours

    Sunday:
    8:00 AM - 6:00 PM
    Monday:
    8:00 AM - 6:00 PM
    Tuesday:
    8:00 AM - 6:00 PM
    Wednesday:
    8:00 AM - 6:00 PM
    Thursday:
    8:00 AM - 6:00 PM
    Friday:
    8:00 AM - 6:00 PM
    Saturday:
    8:00 AM - 6:00 PM