Port Angeles Reverse Mortgage Loans
Many Seniors today are using a Port Angeles reverse mortgage to enhance their retirement. The Home Equity Conversion Mortgage or (HECM) is the government insured mortgage provided by private lenders and insured by the Federal Housing Administration.A reverse mortgage may be a good option for you if you would like to:
- Live independently in your own home and maintain ownership
- Make home improvements and other enhancements
- Eliminate the monthly principal and interest payment on your mortgage
- Have more liquidity with a line of credit
The question that most people ask is how exactly does this all work.
You may qualify if:
- One homeowner is at least 62 years’ old
- The home is your primary residence
- The loan proceeds are enough to pay off your existing loan and closing costs
- Pass Financial Assessment in underwriting
Reverse Mortgages Broker Port Angeles WA
The best way to find out if a Port Angeles reverse mortgage is right for you is to begin with education. Our President, John Barlow, has written an informative book called “Understanding Reverse Mortgages”. He discusses all of the ins and outs of this product and shows three examples of clients using a Port Angeles reverse mortgage who have different situations. You can find the book here on Amazon, www.amazon.com/author/jbarlow. The next phase is to give us a call to see what your loan proceeds will be and which advantages apply to you. The loan amount will be determined by the appraised value or max claim amount, age of the youngest borrower or a non-borrowing spouse, and the expected interest rate.Reverse Mortgage Port Angeles WA
Sound Financial Mortgage LLC believes in supplying our customers with a solid education, outstanding service, and a wide variety of product options to meet your needs. We believe in honesty and integrity and we will always work to maintain your trust. If you are interested in learning more about Port Angeles reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Port Angeles reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Port Angeles
- To receive personalized Port Angeles reverse mortgage information
- Like to learn more about how it works and if it is right for you
- To find out more information about reverse mortgages
- If you are interested in learning more about the advantages vs. disadvantages
- If you would like more information on reverse mortgage counseling
- To determine eligibility requirements and how much you may qualify to receive
Port Angeles Tidbits
Francisco Eliza, a Spanish captain, sailed in 1791 into the harbor that is now known as Port Angeles. He was the first European to set his eyes on the area of Port Angeles. The site was named Puerto de Nuestra Senora de Los Angeles. This translated to Port of Our Lady of Angels. The city is now known as Port Angeles, which derived its name from the original name that Eliza gave the port. Port Angeles became a federal city in 1862 under President Abraham Lincoln's designation. The only other federal city in the United States is Washington D.C.According to a senior archaeologist who works for the U.S. Army Corps of Engineers in Seattle, Port Angeles is the location of the biggest prehistoric burial ground and Indian Village that is found in the United States. A construction project that totaled $275 million began in Port Angeles. This construction project unburied an estimated 300 graves in the area and 785 human bone pieces. In addition to this, there were ceremonial Native American artifacts and numerous ritual artifacts of the Tse-whit-zen village. There were some remains unearthed that were between 1,700 and 2,700 years old. There were lots of graves that had entire families buried. They seemed to have died suddenly. Archaeologists guessed that these sudden deaths were probably due to the diseases and illnesses carried by European immigrants to North America. Native Americans had no immunity to these diseases at the time, so there was widespread death during the time when Europeans and Native Americans made contact with each other. 90% of Native Americans in the Northwest were wiped out by the illnesses spread by European fur traders.
The city's area total equals 14.52 square miles according to the United States Census Bureau. Of that area, 3.82 square miles is made up of water. The city rests on the northern tip of the Olympic Peninsula along the shoreline of the Strait of Juan de Fuca. There is a narrow and long sandspit that is named Ediz Hook. It goes in a northeastern direction almost three miles into the Strait. A natural, large deep-water harbor is created by Ediz Hook. The harbor is protected from the swells and storms that move in an easterly direction from the Pacific Ocean down the Strait. At the end of Ediz Hook, there is a coast guard station. The harbor is not too shallow. In fact, it is deep enough to give large ocean ships, such as cruise ships and tankers, anchorage. Vancouver Island's south shore and the city of Victoria are able to be seen across the Strait when looking to the north.
The city of Port Angeles gets much less rain than other parts of western Washington. This is due to the location of Port Angeles, which sits in the Olympic Mountains' rain shadow. The average total precipitation in Port Angeles is about 25 inches. This is much less than Seattle's 38 inches of precipitation per year. The location of Port Angeles means that its temperature stays moderately cool throughout the year. Its winter lows very rarely dip under 25 degrees Fahrenheit. The summer highs do not often go above 80 degrees Fahrenheit. The city can, however, be susceptible to windstorms and cold fronts that go past the Strait of Juan de Fuca. Port Angeles gets an estimated 4 inches of snow every year, but it does not sit for long before melting away.
Olympic National Park is headquartered in Port Angeles. The park encompasses a great majority of the Olympic Mountains. The headquarters was created by President Franklin D. Roosevelt back in 1938.
There were 8,459 households, 19,038 people, and 4,808 families who made their home in Port Angeles as of the 2010 census. There was an average of 1,779 residents for every square mile in Port Angeles. There was an average density of 867 housing units for every square mile. There were 9,272 housing units in Port Angeles. The racial breakdown of Port Angeles was .8% African American, 88.9% White, 1.8% Asian, 3.2% Native American, .9% from other races, .2% Pacific Islander, and 4.3% from two or more races. Latinos or Hispanics of any race were 4.0% of the residents in Port Angeles. 25.7% of households in Port Angeles had kids under age 18 living in the same home. 39.9% of households had both spouses living in the same home. The size of the average household consisted of 2.19 people. The size of the average family in Port Angeles consisted of 2.79 people. Port Angeles' median age was 41.6 years old. The gender breakdown of Port Angeles was 51.4% female and 48.6% male.
The Port Angeles School District provides public school education in the city. There is one high school, a middle school, five elementary schools, a vocational school, and an alternative high school.
