Reverse Mortgage Program

The Reverse Mortgage program is designed to help homeowners aged 62 and older convert home equity into tax-free, accessible funds while continuing to live in their home. Unlike traditional mortgages, no monthly mortgage payments are required; instead, interest and fees are added to the loan balance. This option provides financial flexibility for retirees or seniors seeking supplemental income, healthcare funding, or home improvement resources.
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Access to Tax-Free Funds

A reverse mortgage allows homeowners to access the equity in their property without triggering taxable income. Funds can be received as a lump sum, line of credit, monthly payments, or a combination of these methods, providing flexibility to address individual financial needs. Michael Glenner ensures that borrowers understand each option and how it fits into their personal budget and long-term planning, helping clients maximize the benefits while minimizing risk.
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No Monthly Mortgage Payments

Unlike traditional loans, reverse mortgages do not require monthly mortgage payments. Borrowers remain responsible for property taxes, homeowner’s insurance, and maintenance, but the principal and interest accrue over time. This structure provides relief for seniors who want to reduce monthly obligations while maintaining their standard of living and preserving homeownership.
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Benefits of a Reverse Mortgage

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Convert home equity into tax-free, accessible funds

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No monthly mortgage payments required

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Flexible disbursement options: lump sum, line of credit, or monthly payments

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Provides retirement financial security while maintaining homeownership
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Home Equity for Retirement Flexibility

Reverse mortgages allow homeowners to unlock the value of their home to fund retirement expenses, healthcare, or lifestyle enhancements. By leveraging home equity, borrowers can supplement Social Security, pensions, or other income sources without selling their property. Michael Glenner works with clients to project equity growth, plan withdrawals strategically, and ensure that loan terms meet long-term financial goals.
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Why Choose Michael Glenner at Contempo Lending

Choosing the right mortgage professional directly impacts your financing experience, approval success, and long-term financial outcome. Michael Glenner of Contempo Lending provides personalized mortgage solutions tailored to each client’s financial profile, property goals, and timeline. Rather than offering one-size-fits-all lending, every loan strategy is carefully structured to align with underwriting standards while maximizing affordability and long-term stability.

We are known for

Precision Pre-Approvals – Thorough income, credit, and asset analysis upfront to strengthen offers and reduce underwriting surprises.

Program Versatility – Access to VA, FHA, Conventional, Jumbo, Non-QM, HELOC, and refinance options tailored to complex financial profiles.

Transparent Communication – Clear rate explanations, fee breakdowns, and consistent updates from application through closing.

Efficient Closings – Proactive documentation management and lender coordination to minimize delays and meet contract timelines.

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Why Choose Rapid Closing?

Choosing the right mortgage partner can make all the difference in your homeownership journey. At Rapid Closing, we combine speed, expertise, and personalized care to deliver financing solutions that are tailored to your goals. Whether you’re a first-time home buyer, refinancing, or exploring specialized programs, our team is dedicated to making the process smooth, transparent, and stress-free. With Rapid Closing, you’re not just getting a loan—you’re gaining a trusted partner who stands by you every step of the way.

We are known for

Fast & Reliable Closings – Streamlined processes that save you time and stress.

Wide Range of Loan Programs – From FHA and VA to DSCR, Jumbo, and USDA loans.

Personalized Guidance – Clear, step-by-step support with dedicated loan specialists.

Flexible Solutions – Options designed for first-time buyers, investors, and unique situations.

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"FAQs"

Down payment requirements vary by loan program. FHA loans may require as little as 3.5%, Conventional loans can start at 3% depending on qualifications, VA and USDA loans may offer zero-down options for eligible borrowers, and Jumbo loans typically require higher down payments. The exact amount depends on credit profile, income, and property type.

Minimum credit score requirements vary by program. FHA loans are generally more flexible, while Conventional and Jumbo loans typically require higher scores. Non-QM programs may offer alternative qualification pathways for borrowers with unique financial circumstances. A full credit review determines the most suitable option.

On average, the mortgage process takes 21 to 30 days from application to closing, depending on loan type, appraisal timelines, and documentation responsiveness. Proactive pre-approval and organized financial documentation can significantly streamline the process.

Yes. Self-employed borrowers can qualify using alternative documentation such as bank statements, profit and loss statements, or asset-based calculations. Specialized programs are designed to accurately reflect business income while meeting lender guidelines.

Refinancing may be beneficial if you can secure a lower interest rate, reduce monthly payments, shorten your loan term, or access home equity. A detailed cost-benefit analysis helps determine whether refinancing aligns with your long-term financial goals.

Eligibility & Qualification

To qualify, borrowers must be at least 62 years old, own the home outright or have a low mortgage balance, and occupy the home as their primary residence. Property eligibility and appraisal requirements are also part of the process. Michael guides clients through the documentation, appraisal, and counseling requirements, ensuring smooth processing and compliance with federal regulations.