Mark W. Pattison, NMLS 2334799
Mortgage Advisor
AZ LO-2001289 | CA DFPI 2334799 | TX 2334799
NEXA Mortgage, LLC · NMLS 1660690 · Equal Housing Lender
Reverse Mortgage Guidance With Mark Pattison
Understand how a reverse mortgage works, the costs and responsibilities involved, and the questions worth asking before you decide. Start with a personal conversation with Mark.
Serving Arizona, California, Puerto Rico, and Texas.
Mark W. Pattison, NMLS 2334799
Mortgage Advisor
Start With the Basics
A reverse mortgage is a loan secured by your home. A Home Equity Conversion Mortgage, or HECM, is a type insured by the Federal Housing Administration. It is important to understand both the potential uses and the responsibilities before deciding whether to proceed.
Understand how borrowing against your home equity works and how interest and fees affect the balance.
Review the property expenses, maintenance, and occupancy requirements that continue after closing.
Consider how the loan could affect your remaining equity, a future move, and your family.
Who I Help
Your home, your plans, and your questions deserve individual attention. Start with the situation that feels closest to yours.
You are considering how your home and borrowing choices might fit your next stage. Get help understanding the questions to ask before making a decision.
You want to understand how your current mortgage balance affects the conversation. Review the costs, requirements, and alternatives rather than assuming one loan is the answer.
You may be thinking about moving closer to family or finding a home that better suits your needs. Ask Mark which financing options are available for your plans.
You want to help someone understand their choices without adding pressure. Join the conversation when the homeowner wants your involvement.
Your Questions Come First
You do not need to commit to a loan to ask a question. Talk through what matters to you and decide what you would like to understand next.
Where you live and what you may need from it in the future.
The costs, responsibilities, and family considerations that matter to you.
A clearer understanding of the information you need before deciding.
Empower Through Action.
Mark’s personal philosophy
Meet Your Mortgage Advisor
Mark W. Pattison, NMLS 2334799
Mortgage Advisor
I’m a mortgage advisor with a background in business, martial arts, and raising four children. I enjoy working with numbers, but understanding what matters to you comes first.
My personal philosophy is Empower Through Action. When we talk, my aim is to help you understand your mortgage options, the questions worth asking, and the next step you feel comfortable taking.
Your First Conversation
01
Start with what you want to understand.
02
Consider the details and ask follow up questions.
03
Take the time you need and involve a trusted person when helpful.
Useful Information
Your Questions
You do not need to know the terminology before asking a question. Start with these common topics, then talk with Mark about your circumstances.
A reverse mortgage lets a homeowner borrow against home equity. With a HECM, interest and fees are added to the balance over time. Repayment and continuing property obligations are important parts of the decision.
HECM borrowers must be at least 62, but age is only one requirement. Property, equity, financial, and occupancy requirements also apply, along with counseling through a HUD approved agency. A younger spouse’s position needs separate consideration.
Review closing costs, mortgage insurance, interest, and any applicable servicing charges. You also remain responsible for property taxes, homeowners insurance, applicable property charges, and upkeep. Understand which costs are paid separately and which may increase the loan balance.
Repayment generally becomes due when the home is sold or no qualifying borrower remains, although protections may apply to an eligible spouse. The circumstances and loan terms matter. Discuss these questions with Mark and the appropriate housing, legal, or estate planning professional before deciding.
Yes. You can ask questions before submitting an application and involve a spouse, adult child, or trusted person when you choose. The conversation should help you understand your options, not pressure you into a decision.
Understand Your Numbers
A useful reverse mortgage illustration needs more than a home value. Start with a conversation about the information needed to explore your options.
Ask Mark to explain the assumptions, potential loan structure, and costs for your circumstances. An illustration is a starting point for discussion, not an approval or commitment.
A Conversation, Not a Commitment
Send Mark your question. You can start with a conversation and take the time you need before deciding what comes next.
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