Mortgage Broker Classes

Twenty four hours of pre-licensing classes are held once a month in Ft. Lauderdale on the weekend before the state exam.  Fourteen hours of continuing education credits are available as a correspondence course. State exam study material, including quizzes and a math cram book are available as downloads.  Click here for more information. 

Mortgage Calculator and Buyer Reports

Obtaining financing can be a stressful time for any individual.  Here is a library of information that may help answer some questions you might have.

 Mortgage Calculators                                        Homeowner Warranties

9 Steps to Owning                                              Housing Finance Agencies

Applying for a Loan                                            How Escrow Works

Buying Foreclosures/REO's                              Inspection Tips

Closing Costs                                                        Insurance Closing Costs

Contingencies in Contracts                             Lender Types

Creative Financing                                              Loan Application Checklist

Document Your Assets                                     Loan Programs

First Time Buyers                                                Loan-Related Closing Costs

Fixer Uppers                                                          Locking in Rates

Home Buyer Checklist                                       Why Title Insurance?

 Reverse Mortgages

The Veritas Real Estate Group is proud to broker Reverse Mortgages.  Unlike traditional home equity loans the Reverse Mortgage is a home loan that allows you to use the equity in your home and does not require payment of any kind until the last surviving borrower permanently leaves the home.  You qualify if you are a homeowner all of the borrowers are at least 62 years old.  There are no income or credit requirements. 

Three factors determine the amount of eligible equity you may convert to cash.  These factors are the age of the youngest borrower, the value of your current home and the current interest rate.  The older the borrower and the higher the home value, the more money you get.  You may receive all of your money in a lump sum, in regulqr monthly payments, or you can place the money in a growing line of credit.  You may also combine any of these three options.

The Reverse Mortgage versions we offer are "totally safe".  Just like a traditional home loan you retain ownership and the lender never owns your home.  The Reverse Mortgage is non-recourse so the final amount of the home loan will never exceed the value of your home.  This protects your heirs from taking money out of their pocket for repayment of your Reverse Mortgage.  You will never be forced out of your home as long as one of the borrowers continues to live in the home, adequate property insurance is maintained, the property tax is paid annually and the home is kept in good condition.  These are the smae conditions that apply to any traditional home loan.  Your estate will receive the home upon your death, just like any traditional home loan.  Your heirs have the choice of either keeping the home and paying the lender or selling the home and using the proceeds to pay off your Reverse Mortgage.  All remaining equity is paid to your estate after the Reverse Mortgage is satisfied.

Equity received from a Reverse Mortgage is a loan and not income and is NOT subject to income tax and will NOT affect your social security benefits.  Please consult the links below for more information:

"Home Made Money: A Consumers Guide to Reverse Mortgages". 

"Reverse Mortgages - A Lawyer's Guide to Housing and Income Alternatives".

"Money From Home - A Guide to Understanding Reverse Mortgages".

 "Home Equity Conversion Mortgage (HECM) Consumer Fact Sheet".

 "Use Your Home to Stay at Home"

"Use Your Home to Stay at Home: A Planning Guide for Older Consumers"

"Use Your Home to Stay at Home: A Guide for Homeowners Who Need Help Now"