Acadia Lending Group

MYTH MONDAY

Myth: "If you get a reverse mortgage, the bank owns your home."

False.

One of the biggest misconceptions about reverse mortgages is that you give up ownership of your home. In reality, you remain the homeowner and continue to hold the title.

Like any mortgage, there are ongoing responsibilities. Homeowners must continue to:
✔ Live in the home as their primary residence
✔ Pay property taxes
✔ Maintain homeowners insurance
✔ Keep the home in good condition

A reverse mortgage simply allows eligible homeowners to convert a portion of their home's equity into usable funds while continuing to live there.

If you've ever wondered how reverse mortgages really work, we've answered many of the most common questions in our guide:

https://mainemortgage.com/reverse-mortgage-questions/

NMLS 370636

Building a home is an exciting journey, but figuring out the financing can feel overwhelming.

Questions like...

❓ Do I need to own land before I apply?
❓ Can I finance the land and the construction together?
❓ What is a One-Time Close Construction Loan?
❓ Can I build on family-owned property?
❓ How much money do I need for a down payment?
..are some of the most common questions we hear.

That's why we created our most comprehensive guide to construction loans yet.

Whether you're planning your first home, your forever home, or a seasonal getaway in Maine or New Hampshire, this guide walks you through the construction financing process from start to finish, including common misconceptions, helpful tips, and answers to frequently asked questions.

📖 Read the Complete Guide to Construction Loans:
https://mainemortgage.com/construction-loans-guide/

Have questions about building a home? Our team is always happy to help.

NMLS 370636

Not every buyer is looking for a perfectly updated home.

Sometimes the right home is the one with good bones, the right location, and the potential to become exactly what you want.

Whether you're dreaming about renovating a kitchen, updating a bathroom, replacing flooring, or customizing a space to better fit your lifestyle, renovation financing may be an option worth exploring.

Our newest blog breaks down how renovation loans work, what kinds of projects may qualify, and why more homebuyers across Maine and New Hampshire are considering homes with potential in today’s market.

Read the full article here:
https://mainemortgage.com/home-renovation-loans-maine/

NMLS 370636

Home Renovation Loans in Maine & NH - Acadia Lending Group How do home renovation loans work in Maine or NH? Explore financing options for fixer-uppers, home improvements, & renovation projects with Acadia Lending.