Reverse Loans
Home equity levels for homeowners aged 62 and older grew to $7.1 trillion in the fourth quarter of 2018. Are you aware of how reverse mortgages work? Is reverse mortgage the right fit for you? You may be eligible for a reverse mortgage if you are 62 years or older, live and own your home, undergo financial assessment and receive counselling. The amount you qualify for depends on your age, current home value and prevailing interest rates. A reverse mortgage can eliminate monthly mortgage payments (principal and interest). You must continue to maintain your property, pay all property taxes, homeowners insurance and comply with your loan terms, as you would with any mortgage.
There are several options to access your funds including lumpsum, monthly payouts, growing line of credit and more. Visit our website to learn ten different strategies to use reverse mortgages. Learn about major differences between a HECM and a HELOC. HECM is a U.S. Department of Housing and Urban Development (HUD) insured product. There are several safeguards and protection built in for you and your family members.
Reverse Loans Resources
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We believe finding the perfect home is a life-changing experience, not just a transaction. Whether you’re upsizing, downsizing, or starting fresh, we’re here to guide you with trust, care, and expertise every step of the way.
Homebuyer Resources
Buying a home is a journey—and you don’t have to go it alone. Our Homebuyer Resources hub offers everything you need to make well-informed decisions at every stage: from credit tips and budgeting tools, to down payment strategies and mortgage comparisons. Available 24/7 to you.
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Buyers can fill out a short form to give us a better understanding of their home buying needs and financial situation. This helps your Loan Officer-Realtor team to service your needs better. No financial documents or credit checks are needed at this stage.
Conventional Loans
Shining Star Funding offers flexible Conventional Loan options designed to fit a variety of homeownership needs. Unlike government-backed loans, conventional financing provides competitive interest rates and versatile terms for qualified buyers with solid credit. Whether you are purchasing your first home, upgrading to a second property, or investing in real estate, Shining Star Funding makes the process simple and personalized. With programs that allow financing for multiple investment properties, low-occupancy condos, and even fast cash-out options, they go beyond traditional lending. Shining Star Funding empowers buyers with tailored solutions, helping families achieve stability and long-term financial growth.
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For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.
Interactive calculators are self-help tools. Results received from this calculator are designed for comparative and illustrative purposes only, and accuracy is not guaranteed. Shining Star Funding is not responsible for any errors, omissions, or misrepresentations. This calculator does not have the ability to pre-qualify you for any loan program or promotion. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. Additional fees such as HOA dues are not included in calculations. All information such as interest rates, taxes, insurance, PMI payments, etc. are estimates and should be used for comparison only. Shining Star Funding does not guarantee any of the information obtained by this calculator.
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CMG Mortgage, Inc. dba Shining Star Funding, NMLS ID# 1820 (www.nmlsconsumeraccess.org, www.cmghomeloans.com), Equal Housing Opportunity. Licensed by the Department of Financial Protection and Innovation (DFPI) under the California Residential Mortgage Lending Act No. 4150025. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing