Call 303 223-7474 For Expert Advice
Call 303 223-7474 For Expert Advice
Get a Personalized Quote from one of Colorado's Best Reverse Mortgage Specialists!
Get a Personalized Quote from one of Colorado's Best Reverse Mortgage Specialists!
TESTIMONIALS
What Our Clients Say About Us
"'Awesome! Our funding experience with mortgage toolbox Inc. , was beyond my expectations! As a first time home-owner everything was new to me. But they had amazing communications (even though I did most of it online). And I got a better rate than my bank quoted me!."
- Jill and Andrew Miles
"'Chad did a great job with my loan. He answered all my questions and went the extra mile with handling my loan. I have used him numerous times and I will use him again and I refer everybody I know to him. Thanks for an amazing job!"
- J W.
"'Such an amazing experience, we worked with a phenomenal team! This was our first time buying a home and the market in Highlands Ranch was intense. We really didn't think we would get through it, but our team kept us positive and in the game. Thank you for all your help and support."
-Cssusavilla
"'This is my second refi with Mortgage Toolbox and I can't imagine working with any other financing team. I appreciated that I could close in the comfort of my own home...on a Saturday...so that I didn't have to take time from work. Chad has a friendly and very thorough way of explaining the process and is always available to answer questions or concerns either through telephone or email. Thank you, Chad, for your considerations and assistance."
-Outdoorcoloradogirl
"It was truly a pleasure working with Chad. He will be there for you every step of the way, VERY knowledgeable, great communication and always willing to answer your questions until everything is resolved. He made it so much easier and less stressful during from the beginning to the closing day. We were demanding at the time yet he was always willing to assist us in every possible way. We really appreciate his hard work and patience, and absolutely loved working with him. We will definitely like to work with him when we are refinancing or if we ever consider purchasing another house."
-Brianhaupe
TESTIMONIALS
What Our Clients Say About Us
"'Awesome! Our funding experience with mortgage toolbox Inc. , was beyond my expectations! As a first time home-owner everything was new to me. But they had amazing communications (even though I did most of it online). And I got a better rate than my bank quoted me!."
- Jill and Andrew Miles
"'Chad did a great job with my loan. He answered all my questions and went the extra mile with handling my loan. I have used him numerous times and I will use him again and I refer everybody I know to him. Thanks for an amazing job!"
- J W.
"'Such an amazing experience, we worked with a phenomenal team! This was our first time buying a home and the market in Highlands Ranch was intense. We really didn't think we would get through it, but our team kept us positive and in the game. Thank you for all your help and support."
-Cssusavilla
"'This is my second refi with Mortgage Toolbox and I can't imagine working with any other financing team. I appreciated that I could close in the comfort of my own home...on a Saturday...so that I didn't have to take time from work. Chad has a friendly and very thorough way of explaining the process and is always available to answer questions or concerns either through telephone or email. Thank you, Chad, for your considerations and assistance."
-Outdoorcoloradogirl
"It was truly a pleasure working with Chad. He will be there for you every step of the way, VERY knowledgeable, great communication and always willing to answer your questions until everything is resolved. He made it so much easier and less stressful during from the beginning to the closing day. We were demanding at the time yet he was always willing to assist us in every possible way. We really appreciate his hard work and patience, and absolutely loved working with him. We will definitely like to work with him when we are refinancing or if we ever consider purchasing another house."
-Brian Haupe
WHAT IS A REVERSE MORTGAGE?
How The Reverse Mortgage Works
A reverse mortgage is a loan secured by your home. It must be your primary residence (that means that you, as the borrower, must live in the home for as long as you have the loan).
This type of loan allows borrowers to access a portion of their tax-free equity without making monthly mortgage payments. No payment is required until the last surviving homeowner moves, dies, or sells the home.
The borrower maintains the home’s title and is responsible for property taxes and homeowner’s insurance payments. The amount borrowers receive is determined by the HUD calculations based on the age of the borrowers (most specifically, the age of the youngest borrowing or non-borrowing spouse), the value of the home or the HUD lending limit, whichever is less and the interest rates in effect at the time.
Borrowers never have to make a monthly payment on reverse mortgage loans. There is never a prepayment penalty, so they can make any payment they wish, including repaying the loan at any time.
WHAT IS A REVERSE MORTGAGE?
How The Reverse Mortgage Works
A reverse mortgage is a loan secured by your home. It must be your primary residence (that means that you, as the borrower, must live in the home for as long as you have the loan).
This type of loan allows borrowers to access a portion of their tax-free equity without making monthly mortgage payments. No payment is required until the last surviving homeowner moves, dies, or sells the home.
The borrower maintains the home’s title and is responsible for property taxes and homeowner’s insurance payments. The amount borrowers receive is determined by the HUD calculations based on the age of the borrowers (most specifically, the age of the youngest borrowing or non-borrowing spouse), the value of the home or the HUD lending limit, whichever is less and the interest rates in effect at the time.
Borrowers never have to make a monthly payment on reverse mortgage loans. There is never a prepayment penalty, so they can make any payment they wish, including repaying the loan at any time.
About Me
Chad Petersen
President of MORTGAGE TOOLBOX INC.
Chad Petersen, the President of Mortgage Toolbox Inc., is renowned for his visionary leadership and unwavering commitment to excellence. With a sharp business acumen and a passion for innovation, Chad has successfully steered the company to new heights. His dedication to client satisfaction and his ability to foster a positive and collaborative work environment make him an invaluable leader.”
About Me
Chad Petersen
President of MORTGAGE TOOLBOX INC.
Chad Petersen, the President of Mortgage Toolbox Inc., is renowned for his visionary leadership and unwavering commitment to excellence. With a sharp business acumen and a passion for innovation, Chad has successfully steered the company to new heights. His dedication to client satisfaction and his ability to foster a positive and collaborative work environment make him an invaluable leader.”
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Ideal Lending LLC, NMLS 2471779 is not affiliated with or acting on behalf of or at the direction of the Federal Housing Administration (FHA) or any government agency or government-sponsored entity and this offer is not being made by an agency of the government. Ideal Lending LLC is a Licensed Mortgage Lender Servicer, FL MLD2414; Ideal Lending LLC only lends in CO, CT, FL, GA, TN, TX. Refer to www.nmlsconsumeraccess.org and input NMLS 2471779 to see where Ideal Lending LLC is licensed. Equal Opportunity Employer; Equal Opportunity Lender | This is not an offer for extension of credit or commitment to lend. All loans must satisfy underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. Certain restrictions may apply.
© Ideal Lending LLC Office: 5589 Okeechobee Blvd Suite 101, West Palm Beach, FL 33417
Copyright © 2024 MORTGAGE TOOLBOX INC. All rights reserved.
We use cookies to help improve, promote and protect our services.
By continuing to use this site, you agree to our privacy policy and terms of use.
This site is not a part of Facebook website or Facebook, Inc.
This site is NOT endorsed by Facebook in any way. FACEBOOK is a trademark of FACEBOOK, Inc.
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
Copyright © 2024 MORTGAGE TOOLBOX INC. All rights reserved.
We use cookies to help improve, promote and protect our services.
By continuing to use this site, you agree to our privacy policy and terms of use.
This site is not a part of Facebook website or Facebook, Inc.
This site is NOT endorsed by Facebook in any way. FACEBOOK is a trademark of FACEBOOK, Inc.
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.