1-866-840-0279New Hampshire Reverse Mortgages
A New Hampshire reverse mortgage can help you achieve the financial freedom you deserve while living in the state you love.
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New HampshireUse the interactive map or the state selector to find more reverse mortgage information about your state.
How a Reverse Mortgage Works in NH
A reverse mortgage in New Hampshire allows eligible homeowners to access the wealth they have stored in home equity to free up their finances and pursue the life they deserve to live. Also known as a home equity conversion mortgage (HECM), this government-backed financial product allows you to convert a portion of your equity into loan proceeds received as a cash lump sum payment, monthly installment, or line of credit, giving you the flexibility to choose how you’d like to receive your money.
The funds from an NH reverse mortgage can be used however you like, offering benefits such as:
You can use the funds obtained through a New Hampshire reverse mortgage to maintain your quality of living, comfortably age in place, and live The GoodLife in Retirement. Read GoodLife’s reverse mortgage guide for a complete breakdown of how the HECM program works. To see how much equity you may be eligible to borrow, refer to our reverse mortgage calculator.
Reverse Mortgage Qualifications & Requirements
Because HECMs are insured through the Federal Housing Administration (FHA) and overseen by the U.S. Dept. of Housing and Urban Development (HUD), borrowers must meet certain guidelines that apply to homeowners across the country. According to federal regulations on reverse mortgage eligibility, borrowers must:
If you’re not sure if you meet the reverse mortgage requirements in New Hampshire, a GoodLife Specialist will be happy to help you determine whether this form of financing can offer a solution for your unique needs.
New Hampshire Reverse Mortgage Calculator
Our reverse mortgage calculator can give you a free estimate of how much home equity you may be able to access to increase your cash flow.
New Hampshire Reverse Mortgage Process
Homeowners in search of a trustworthy reverse mortgage company in New Hampshire should turn to GoodLife, the top-rated lender on Trustpilot dedicated to improving the lives of people across the country. We simplify the reverse mortgage application process with four steps, and we are there to provide a helping hand throughout the entire process.
Consultation
A dedicated Reverse Mortgage Specialist will learn about your circumstances and explain how the HECM program works to discuss whether you may be able to use it as a viable tool for your financial future. There’s never any pressure to commit upon calling to learn more about the NH reverse mortgage process — we’re committed to ensuring the right match, for the right person, at the right time.
Counseling
HUD requires all potential borrowers to meet with an approved counselor who will act as an objective third-party. They’ll confirm the accuracy of the information we provide and answer any question you may have about obtaining a reverse mortgage in NH.
Application
If you choose to move forward, GoodLife handles every part of the application process in-house. We’ll arrange a visit from a certified appraiser who can ensure the property is maintained to FHA standards and we’ll provide you with a checklist ahead of time so you know exactly how to prepare. The appraiser will also determine the value of the loan, which helps us evaluate how much you may qualify to borrow.
Funding
We then process your application and, once approved, underwrite the loan in-house. Our unique reverse mortgage application process lets us cut out the middlemen and pass the savings directly onto homeowners in New Hampshire. We expediently fund the loan to put money in your hands right when you need it — on the best terms that can either meet or exceed our competitors’, guaranteed.
Reverse Mortgages in NH: FAQs
How are interest rates determined?
If the interest rate is variable, it will be determined at the time of closing based on the current index and the lender’s margin. You can also elect to receive a fixed interest rate through a lump sum disbursement. GoodLife offers the most affordable rates on NH reverse mortgages that you can find in the industry.
How are reverse mortgages calculated?
The size of a reverse mortgage loan depends on three variables: 1) the age of the youngest borrower; 2) the appraised property value; 3) the current interest rates.
What other closing costs are involved?
Borrowers may need to use a portion of their loan proceeds to settle their remaining mortgage balance before spending the funds as they like. You will need to pay for upfront and ongoing mortgage insurance that provides non-recourse protection, as well as property taxes and required maintenance. If you choose a different reverse mortgage company in New Hampshire, you may face additional closing costs related to third-party underwriters and originators.
Download the Reverse Mortgage Guide
Fill out the form to download our comprehensive GoodLife Guide to Reverse Mortgages or call to speak with a GoodLife Specialist!
