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Alliance West Mortgage

in Reverse Mortgages

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Alliance West Mortgage

Unaffiliated

in Reverse Mortgages

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Overview

Where does Alliance West Mortgage do business?

Alliance West Mortgage is based in Lake Forest, CA. The company was founded in 2009 and offers reverse mortages in 6 states in the USA.

What types of reverse mortgages does Alliance West Mortgage offer?

Alliance West Mortgage allows borrowers to apply for the following types of reverse mortgage.

Lump sum. The borrower can access the entire amount immediately. However, you will need to pay interest on the entire amount regardless of whether you spend it.

A line of credit. This is a more flexible option that allows borrowers to only borrow (and pay interest) on the amount they withdraw from their line of credit. In the case of reverse mortgages, the amount of cash available in your line of credit increases as time goes by.

Monthly disbursement. With this option, you get a monthly allowance. This is a good option if you need an additional source of income to cover your living expenses. It can be used in combination with a line of credit for additional flexibility.

What fees does Alliance West Mortgage charge for a reverse mortgage?

Alliance West Mortgage may charge a loan origination fee.

What types of property can you use as security for a reverse mortgage with Alliance West Mortgage?

Lenders often have restrictions on the type of properties they will accept as security for a reverse mortgage. Alliance West Mortgage will consider lines of credit secured by the following property types:

  • Primary home
  • Secondary homes and vacation properties

 

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Availability

Available in 6 states
  • California
  • Colorado
  • Maryland
  • Oregon
  • Virginia
  • Washington

Feature Breakdown

Intended Use
  • Primary Home
  • Investment
  • Secondary Home
Minimum Age
62
Reverse Mortgage Payment Options
  • Line of credit
  • Lump sum
  • Monthly disbursement
Reverse Mortgage Options
  • HECM for home purchase
  • Standard

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