Vancouver Reverse Mortgage Loans
Many Seniors today are using a Vancouver 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 Vancouver WA
The best way to find out if a Vancouver 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 Vancouver 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 Vancouver 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 Vancouver reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Vancouver reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Vancouver
- To receive personalized Vancouver 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
Vancouver Tidbits
There were many different Native Indian tribes that were living in the Vancouver, WA region. The most recent were the Klickitat and the Chinook nations, who had permanent settlements of timber longhouses. In the native Indian language, 'Vancouver' translates into 'land of the mud turtles'. The first European settlers arrived in 1775, but before the Lewis and Clark expedition camped in the region in 1806, about one half of the population of Native Indians was dead as a result of smallpox. Other diseases including influenza, malaria, and the measles reduced the Chinook population to a few dozen refuges from an approximate population of 80,000 Native Indians.In 1824, Fort Vancouver was established as a trading post of the Hudson's Bay Company. This is when the first settlement of white settlers occurred. Under an agreement of joint occupation, both Britain and the US settled the region from then on. With the signing of the Oregon treaty in 1846, the Oregon boundary dispute was settled as a result of this joint occupation agreement. This gave the US full control of the region. Prior to 1845 and before leaving for California, American Henry Williamson laid out a large claim west of the Hudson's Bay Company, including part of what is currently known as the Port of Vancouver, known as Vancouver City and properly registered his claim in Oregon City at the US courthouse. A man named Amos Short looked over Williamson's claim and called the community Columbia City in 1850. In 1855, the community was renamed to Vancouver. The year 1857 brought the incorporation of Vancouver as a city.
Between 1859 and 1860, before the status of capital was returned to Olympia, WA by a two to one ruling of the supreme court of the territory, in accordance with the concern and preference of a man named Isaac Stevens that the proximity to Oregon could provide its southern neighbor undue influence, Vancouver was the Capital of the Washington Territory for a short time based on an 1859 and 1860 legislative act.
In 1852, for 15 months, the future President and current Captain in the US, Ulysses S. Grant was the quartermaster for the Columbia Barracks. Up until the outbreak of the Civil War in America, he didn't serve again and resigned from the Army soon after he left Vancouver. There have been other notable generals that served in Vancouver such as Nobel Peace Prize recipient George Marshall, Oliver Howard, Philip Sheridan, and George McClellan.
When the Department of the Columbia constructed and moved into the military reservation known as the Vancouver Barracks, which was located between what is currently known as Fourth Plain Boulevard and the river and was the largest Army base in the area until 120 miles to the north, Fort Lewis was established. There was a very strong presence of the Army. Pearson Army Field, which was later known as simply Pearson Field, was built on the skirmish range and old company gardens and was a key facility. In fact, there was a time when the US Army Signal Corps operated the largest spruce cutting factory in the world in order to provide the wood for aircraft that was very much in demand.
Vancouver became the final destination for two very long flights over the North Pole from Moscow, USSR. In 1927, the first of these flights was performed by Valery Chkalov in a Tupolev ANT-25RD aircraft. Originally, Chkalov was scheduled to land at an airstrip in close by Portland, Oregon, but at the last minute was redirected to Pearson Airfield in Vancouver. There is currently a street named after him in Vancouver. At Pearson Field, this event was commemorated with the erection of an obelisk in 1975.
In 1917, Vancouver was separated from Oregon. As soon as the Interstate Bridge started replacing ferries, three shipyards operated in Vancouver. They produced ships for WWI and were located downstream. There was a great economic boom just prior to WWII. In 1940, an Alcoa aluminum factory opened. The factory used cheap power from the close by Bonneville Dam with its New Deal hydropower turbines. Henry Kaiser established a shipyard close to the US Army Reserve following the bombing of Pearl Harbor. This shipyard was employing as many as 36,000 people 24/7. They produced small carriers, LST's and liberty ships. In only a few months, the population of Vancouver increased to more than 80,000 people from 18,000 people as a result of this influx of shipyard workers.
Over a third of the urban population in the Vancouver area lives north of the city limits in and unincorporated urban area. These communities include Salmon Creek, Felida Orchards, and Hazel Dell. If in 2006, the county leaders had approved a major annexation plan, Vancouver would have passed Spokane and Tacoma to become the 2nd largest city in Washington State.
