Shannon Horn
Senior Mortgage Advisor | NMLS #121410
Welcome to my loan officer page. I'm licensed in Oregon and Washington, Idaho and Arizona. I look forward to showing you what Advantage Mortgage can do for you!
(503) 327-6889
184 N Grant St
Canby, OR 97013
State Lic OR #121410, WA #MLO-121410, AZ #104846, ID #MLO-2080121410
I'm a Family Mana Go Kartera Branch Manageran RV'er
I grew up in Philomath, Oregon and after graduating from High School. I moved to Portland and attended Portland State University, where I received my B.S. in Economics. I've been in the mortgage industry for over a decade and specialize in reverse mortgages.
Shannon Horn – Reverse Mortgage Expert
Home Equity Conversion Mortgages
For Whatever Is Important To You.
Access a portion of your home’s equity tax-free and stop making principal & interest payments.
Reverse Mortgage Programs
Get Started
Shannon will ask you a series of questions to determine your reverse mortgage goals.
Reach out via email or phone to get started.
Getting Through the Process
- Client Visit & Education — Face to face meeting to review quote & counseling package in addition to answering questions
- Counseling — Senior will choose & schedule appointment with counseling agency from HUD approved list
- Application — Disclosure package generated for client to review & sign
- Processing — Order title report, credit, FHA case assignment and appraisal
- Submission — Loan package submitted to underwriter for review and conditional approval
- Closing — Sign final loan documents
Types of Reverse Mortgages
Home Equity Conversion Mortgage (HECM)
A Home Equity Conversion Mortgage (HECM), commonly referred to as a “Reverse Mortgage,” allows homeowners 62 and above to convert their home equity into cash and not have to sell their current home. An added benefit of a Reverse Mortgage is the cash received is tax-free. There are a variety of disbursement options available to homeowners.
HECM for Purchase (H4P)
The HECM for Purchase Program (H4P) lets homebuyers 62 and above combine the proceeds of the sale of their current home with a down payment to purchase a new home and not make principal and interest payments as long as they live there (conditions apply, contact Shannon for details).
Disbursement Options
Fixed-Rate HECM
- Lump Sum – Only available with fixed-rate HECM
Adjustable-Rate HECM
- Tenure – Fixed monthly payments for as long as the senior lives in the home as a primary residence
- Term – Fixed monthly payments for a specified period of time
- Line of Credit – A standby line of credit to access funds when needed
- Lump Sum – A one-time payment made to the senior at closing
- Combination – You can choose a tenure or term payment in addition to a line of credit and lump sum
Reverse Mortgage PROS
- Eliminates your existing principal & interest payments
- You stay in your home & maintain title
- Loan proceeds are tax-free and can be used any way you choose—consult your financial advisor
- Heirs inherit any remaining equity after paying off HECM loan
- The HECM loan is FHA-insured
Reverse Mortgage CONS
- The loan balance will increase over time
- Fees are typically higher than a traditional forward mortgage
- You must continue paying property taxes & homeowners insurance
- Value of inheritance may decrease over time as proceeds are spent and interest accrues on loan balance
- Reverse mortgages are not well understood
Questions about Reverse Mortgages? Let me help!
Equal Housing opportunity. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Contents not provided by, or approved by FHA, HUD or any other government agency. All potential tax benefits should be verified with a professional licensed tax advisor. NMLS Consumer Access
At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates and conditions are subject to change without notice. Some products and services may not be available in all states.
Where are you in your journey ?
I understand that no two clients are alike, so I put together useful mortgage information specific to different homebuyer and homeowner situations.
1st Time Homebuyer
Will this be your first time purchasing a home? No sweat.
Moving Up
When you’re ready to take that next step, we’re here for you.
Downsizing
They say size isn’t everything. Let’s review your options.
Refinancing
Love the home you’re in? Let’s make it even better.
My Branch
Where can you find me? At Advantage Mortgage’s Canby branch!
184 N Grant St
Canby, OR 97013- (503) 266-5800
Looking at loan options?
We'll help you find the right loan programrateterm
As a mortgage broker, I shop 100’s of lenders to find you a great rate and offer a wide selection of loan programs.
Let’s get started.
I’m excited for the opportunity to work together. How can I help you?
Shannon Horn's
Feedback and Reviews.
Excellent
5 out of 5
5 out of 5
Based on 9 customer reviews
You made it a painlessly easy process for us.
Thank you Shannon! Been busy moving into our new house here in Sandy finally. It's all good! You made it a painlessly easy process for us. You and your team were always one step ahead of our needs as you said you would at every stage and level making it all worry free. In particular, you and your team were always available and especially responsive whenever we needed you throughout the entire engagement. No runarounds and definitely no complaints whatsoever. First class customer service all the way!
Dave Borgens | April 3, 2023
Survey
Above and beyond!
Shannon Horn and his team at Advantage Mortgage truly went above and beyond for me. It took me over 6 months to buy a home, and I put down 9 offers before mine was accepted. Shannon was always available to answer my questions and provide numbers for me with incredible patience and kindness. He responded to me in the evenings, on the weekends, and even from his RV when he was on vacation. Everyone on Shannon’s team was this responsive, including his assistants Paige and Leslie. They all worked together to help me through the emotional process that a first time buyer goes through. Shannon even met me at the bank to support me while I signed my final loan paperwork. I couldn’t have asked to work with a better team.
Rebecca M | June 2, 2022
Survey
I highly recommend his services
Shanon helped me purchase my first home. He was always ready to answer my questions no matter what and always responded with respect and empathy. I highly recommend his services. He even came to my home to help the process move faster and was very very professional.
Chris Cummings | February 12, 2019
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