Lakes and Hills Mortgage Company - Marble Falls, Horseshoe Bay, Burnet, Llano, Kingsland, Granite Shoals, Buchanan Dam, Texas

The Picayune Newspaper - People's Choice Award 2008Equal Housing Opportunity Lender     

704 Second Street, Marble Falls, Texas - Call (830) 693-4763 or Fax (830) 693-4494 - Quick Loans



Mortgages, Home Loans, Reverse Mortgages

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Reverse Mortgages

Make the Most of Retirement!

Today, there are more homeownership options for retired individuals and couples than ever before.

If you are at least 62 years old and have low or no outstanding mortgage debt, Reverse Mortgage programs allow you to borrow against the equity you've built in your home without you repaying the debt for as long as you live there. That's the "reverse" part of this kind of mortgage loan. Instead of making monthly payments, you can opt to receive them!  It is important to note that property taxes and insurance payments must be paid.  The property must be maintained as it is collateral for the loan.

Reverse Mortgage vs. Traditional Refinance Loans Traditional refinance loans mean that the homeowner borrows a large amount of money and makes monthly payments. As payments are made, the loan balance gets smaller and the equity grows. With a Reverse Mortgage, the homeowner borrows small amounts - monthly or at other intervals through a line of credit. Over the course of time, the loan balance gets larger, and equity gets smaller.  Payment is required only once, at the end of the loan, which in most cases is when the homeowner dies, sells or no longer uses the home as a primary residence.

Flexible Access to Extra Income Reverse Mortgages allow borrowers to obtain loan proceeds:

  • in a lump sum to cover large expenses
  • in monthly installments to supplement income
  • as a line of credit to draw on as necessary

There is even a choice for an immediate cash advance in addition to monthly allotments. 

The borrower may change fund distribution plans provided that funds for distribution are available.  There may be fees associated with changing payout options.  Maximum loan amount is based on age, where borrower lives and the value of the home.

The amount owed can never exceed property value. With a Reverse Mortgage you cannot lose your home under normal circumstances. Please understand foreclosure may occur if you do not pay your taxes and insurance and otherwise comply with the loan terms.

The funds received during loan term, plus any accrued interest, become due when borrower sells or no longer uses the home as a primary residence.

Advertising information and marketing materials are not from HUD or FHA and were not approved by HUD or a Government Agency.

Kathy Fletcher - Loan Originator

Kathy Fletcher
Residential Mortgage Loan Originator

NMLS #915861


Lakes and Hills Mortgage Co.
Kathy Fletcher, Residential Mortgage Loan Originator
A. Charlie Keiser, III Entity Administrator
704-708 2nd. Street, Marble Falls,TX,78654
(830) 693-4763 office | | (830) 693-1214 fax



Mortgage Brokerage Entity NMLS ID: 257532
Entity Account Administrator: A. Charles Keiser, III - NMLS ID: 233194

CENTURY 21 Keiser & Company Real EstateThe Owners of Lakes and Hills Mortgage Company also own
CENTURY 21 Keiser & Company Real Estate
and Susie's Travel Time

� Copyright 2011 by Lakes and Hills Mortgage Company, Marble Falls, Texas - All Rights Reserved!
Revised: 2/7/2014

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