Welcome to ANBCReverseMortgage.com

ANBC Offers A Service Link To Reverse Mortgages

ANBC proudly offers a service link to FHA-HUD, Fannie Mae, and other Reverse Mortgage Companies with the ability to creatively customize a reverse mortgage to your financial needs, your objectives, to include your desires and wishes relative to your family, church, and charities.

ANBC Consultants will work with you and your family to help you realize your dreams and to make your retirement a trip into paradise. If a Reverse Mortgage is a smart choice for you ANBC Consultants can provide you and your family with the proper guidance, choices, and options that fulfill your needs and desires.

The following information is general in nature and is subject to change. The purpose of the following of the following articles is to provide an initial introduction only and not specifics for anyone individual. ANBC can provide you with a tailored presentation designed specifically for you.

FHA - HECM (Home Equity Conversion Mortgage)
This plan provides cash, a line of credit* or monthly income (or any combination) for a fixed term or as long as you live in your home.

Features and Benefits:

Maximum Lending Limit – varies from $172,632 to $312,895 depending on the geographic area (adjusts annually)

Government Insured Program

Available to homeowners 62 or older

Variable T-Bill interest rate plus margin is adjusted monthly or annually

Funds are available as cash payment, line of credit, or monthly income for a fixed term or as long as the borrower lives in the home

Available balance on line of credit grows annually

Rising debt loan; may not preserve equity

Loan origination and closing costs may be financed by the loan

A monthly servicing fee is added to the loan balance

Counseling by an approved Fannie Mae or HUD counselor is required

Social Security or Medicare eligibility may not be affected, and generally neither are SSI or Medicaid/MediCal (Consult The Social Security Administration and your tax advisor)

No income qualifications

Use of loan proceeds not restricted *

Loan proceeds are tax-free

* Not all products and options available in all states

HomeKeeper by Fannie Mae
This plan provides cash, a line of credit* or monthly income (or any combination) for as long as you live in your home.

Features and Benefits:

Maximum Lending Limit: $359,650 (adjusts annually)
Government Sponsored Enterprise Program
Available to homeowners 62 or older
Variable CD interest rate plus margin is adjusted monthly
Funds are available as cash payment, line of credit, or monthly income for as the borrower lives in the home
Rising debt loan; may not preserve equity
Loan origination and closing costs may be financed by the loan
A monthly service fee is added to the loan balance
Counseling by an approved Fannie Mae or HUD counselor is required
Social Security or Medicare eligibility may not be affected, and generally neither are SSI or Medicaid/MediCal (Consult The Social Security Administration and your tax advisor)
No income qualifications
Use of loan proceeds not restricted *
Loan proceeds are tax-free

* Not all products and options available in all states

Financial Freedom™ Cash Account™
(Contact us for availability in your state)
The Cash Account™ Plan offers several options to provide seniors with a broad range of choices to access significant home equity opportunities. The Cash Account™ is similar to home equity loans offered by banks. The benefit is a function of the home value and age with no income qualification. No repayment is required until the borrower permanently moves out f the home.

Features and Benefits:

Designed for borrowers age 62 years or older
Virtually no maximum home value or loan limit
Special six-month introductory rate (6 month LIBOR [index] + 4.5% [margin])
Lifetime interest rate cap is 6% over the initial annual percentage rate (6 month LIBOR [index] + 5% [margin])
No equity or appreciation sharing and no maturity fee
Proceeds/advances are not taxable
No prepayment penalty
Loan is non-recourse
Servicing fee is automatically financed on the account monthly (no servicing fee in Illinois and Maryland)
Eligible home types: single family detached, manufactured, condo, PUD, 1-4 rental unit if one is owner occupied, COOPS in New York State
Counseling by an independent counselor
Minimum home value at origination: $75,000

Simply Zero™ Option:

Origination Fee = none
Draw at Closing = 100% of maximum available
Closing Costs = none (excluding local or state taxes, if any)
No prepayment penalty. Partial prepayment not allowed first five years. Full prepayment permitted
Adjustable interest rate = 6 month LIBOR (index) + 5% (margin). Rate is reset semiannually

Zero Point™ Option:

Origination Fee = none
Minimum draw at closing = 75% of maximum available
Minimum draw after closing is $500
Unused line of credit grows by 5% per annum
Closing Costs = actual 3rd party costs not to exceed $3,500 (excluding local or state taxes, if any)
No prepayment penalty. Partial prepayment not allowed on minimum draw at closing for first five years. Full prepayment permitted
Adjustable interest rate = 6 month LIBOR (index) + 5% (margin). Rate is reset semiannually

Standard Option:

Origination Fee = Scaled percentage of home value to a maximum of 2%
Open-ended revolving line of credit
Unused line of credit grows by 5% per annum
Minimum draw is $500
Adjustable interest rate = 6 month LIBOR (index) + 5% (margin). Rate is reset semiannually

Not all products and options available in all states.

The six-month introductory rate as of January 11, 2005 was 7.34% (7.34% APR). The interest rate after the six-month introductory rate as of January 11, 2005 was 7.84% (7.84% APR). The maximum APR that can apply is 13.84%. These rates may vary.

A balloon payment will occur at maturity.

It Pays to Talk With an ANBC Certified Annuity Consultant!