Puyallup Reverse Mortgage Loans
Many Seniors today are using a Puyallup 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 Puyallup WA
The best way to find out if a Puyallup 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 Puyallup 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 Puyallup 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 Puyallup reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Puyallup reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Puyallup
- To receive personalized Puyallup 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
Puyallup Tidbits
In the Puyallup Valley, there were about 2,000 Native Americans during the 1830s and 1840s. The earliest European settlers came to the area in the 1850s. Ezra Meeker platted the site and had it named Puyallup in 1877. The name comes from the name of the local Native American tribes. There was quite rapid growth throughout the 1880s. The town incorporated in 1890. The first mayor was Ezra Meeker. There was change to the valley due to the growth of Tacoma, a nearby city. The turn of the century also brought the interurban rail lines. Local farmers had a place to exhibit their livestock and crops in the Western Washington Fairgrounds. The fairgrounds were an internment camp for Japanese Americans during World War II. The fairgrounds were part of what was called Camp Harmony. There were over 7,000 Japanese Americans detained in the camp. Most of those who were detained were American citizens. The detainees were then subsequently transported to the Minidoka relocation center by Twin Falls, Idaho.Puyallup's area totals about 14.04 square miles. This is according to the United States Census Bureau. Of the total area, .11 square miles is water. The water mainly consists of the Payallup River estuary. 13.93 square miles of the total area is land. Pierce County is the main border of Puyallup. The city of Sumner, Fife, Edgewood, Tacoma, Summit, Midland, South Hill, Graham, Frederickson, McMillin, Orting, and Alderton are the closest neighbors of Puyallup.
Puyallup lies in an oceanic climate zone. Winters in Puyallup are wet and cool. Low temperatures in Puyallup are near freezing, while high temperatures are usually in the mid to upper 40s. The hills surrounding Puyallup usually get hit by the extremes of winter. Its lows often dip below freezing. There is a higher amount of snowfall in the hills. Snow is rare in Puyallup. It only happens on a few days a year. It could happen as late as April, or as early as November. Spring brings in a fair amount of rain. Mild temperatures are normal during the springtime. Highs hit the mid 50s all the way to around 60 degrees Fahrenheit. Spring is usually when the 70 degree Fahrenheit mark is reached. Summers are dry and warm in Puyallup. Many days can reach all the way to the 80s and 90s. 100 degree Fahrenheit weather is very rare for Puyallup. Puyallup's hottest temperature was recorded on July 29, 2009 at 105 degrees Fahrenheit. Occasionally, there are thunderstorms in the summer. They are often not severe and isolated in nature. These storms usually roll off the Cascades and into nearby areas. July and August bring the warmest temperatures. Sometimes, September is the hottest month of the year. Rain usually starts picking up around November.
According to the United States Census of 2010, there were 14,950 households, 37,002 people, and 9,528 families living in Puyallup. There was an average of 2657.7 residents per square mile. With 16,171 housing units in Puyallup, there was an average density of 1,160.9 per square mile. The racial breakdown of Puyallup was 2.1% African American, 84.4% White, 3.8% Asian, 1.4% Native American, 2.1% from other races, .7% Pacific Islander, and 5.5% from two or more races. Latinos and Hispanics made up 6.9% of the population.
The age distribution of the population of Puyallup has 27.3% under the age of 18. From age 18 to 24, it is 10.2% of the population. 30.8% of the population was from age 25 to 44. 20.8% of the population was from age 45 to 64. 10.9% of the population was 65 or older. 34 years was the median age. There were 93.5 males for every 100 females. There were 90.9 males for every 100 females age 18 and over.
$47,269 was the median income for a household in Puyallup. A family's median income was $57,322. Females had a median income of $27,281. Males had a median income of $43,562. The per capita income for Puyallup was $22,401. 6.7% of the population and 4.7% of families were under the poverty line. This included 6.5% of people 65 or over and 7.2% of those under the age of 18.
The valley forms the town in which Puyallup was originally settled. The fertile land is perfect for the daffodils grown for distribution to the world. The daffodils are prominently displayed in Puyallup's annual spring parade. The Puyallup River winds between the hills, through the basin, from the glacier on Mt. Rainier, and ending in the Puget Sound at the Port of Tacoma. The river is cold, sometimes brown, sometimes green, and silty. Mt. Rainier is able to be seen from most points in Puyallup.
There are several landmarks that are notable in Puyallup. Ezra Meeker's mansion was inhabited by one of the city's founding families. They came here by way of the Oregon Trail.
