Savannah · Pooler · Richmond Hill · Coastal Georgia
Mortgages and reverse mortgages for Savannah and Coastal Georgia
Whether you are buying your first home in Pooler, refinancing in Richmond Hill, or retiring to the coast, Billy and Samantha Peel can help you compare your financing options in plain language.
Licensed mortgage broker in Georgia & South Carolina · NMLS #2694379
Who we help in Coastal Georgia
Savannah draws first-time buyers, military families, and retirees from across the country. The right loan depends on where you are in life, not just the house.
Retirees moving to the coast
A HECM for Purchase may let buyers 62 and older combine their own funds with an FHA-insured reverse mortgage to buy their next home, without a required monthly mortgage payment*. Many buyers keep more of their savings available.
How HECM for Purchase worksLocal buyers and military families
Conventional, FHA, VA, and USDA loans for buyers across Chatham, Effingham, and Bryan counties, including families stationed at Fort Stewart or Hunter Army Airfield. First-time buyers can also ask about the state’s Georgia Dream program.
Explore home purchase loansHomeowners refinancing or using equity
Compare refinancing an existing mortgage, tapping home equity, or, for homeowners 62 and older, a reverse mortgage on the home you already own.
Explore refinancing
*Borrowers must continue to pay property taxes, homeowners’ insurance, and maintain the property. The loan becomes due when the last borrower leaves the home or sells it.
What’s different about buying near Savannah
Coastal Georgia homes come with a few questions that inland buyers rarely face. It pays to ask them before you make an offer.
Flood zones and flood insurance
If any part of a home sits in a FEMA Special Flood Hazard Area, most mortgages, including FHA loans and HECMs, require flood insurance for the life of the loan. Look up an address on the FEMA Flood Map Service Center and get an insurance quote early, because it affects your monthly budget.
New construction in a flood zone
For a newly built home in a flood zone, the lender may need an Elevation Certificate, or a FEMA letter of map amendment, showing the lowest floor is above the flood elevation. Ask your builder about it before closing.
Georgia homestead exemptions
Georgia homeowners can claim a homestead exemption on their primary home, and seniors may qualify for additional county and school exemptions that have age and income requirements. In Chatham County, apply with the Board of Assessors; the usual deadline is April 1.
A HECM has to be your main home
A reverse mortgage can only be used on your principal residence, so it can’t be used on a second home or vacation home. With a HECM for Purchase, you generally need to move in within 60 days of closing.
Communities we serve in Coastal Georgia
We work with clients across the Savannah area by phone and video, and we’re glad to travel to meet you in person.
- Savannah
- Pooler
- Richmond Hill
- Tybee Island
- Skidaway Island
- Wilmington Island
- Rincon
- Chatham County
- Effingham County
- Bryan County
Common questions
Savannah mortgage questions
Can I use a reverse mortgage to buy a home in Savannah?
Possibly. A HECM for Purchase may let a buyer 62 or older purchase a principal residence using their own funds plus reverse mortgage proceeds. The home must meet FHA property standards, you must complete independent HUD-approved counseling, and you remain responsible for property taxes, insurance, and maintenance.
Do I need flood insurance to buy near the coast?
If any part of the home is in a FEMA Special Flood Hazard Area, most mortgages, including FHA loans and HECMs, require flood insurance. Check the address on FEMA’s Flood Map Service Center and get a quote before you make an offer.
Can a reverse mortgage be used on a vacation home or rental?
No. A HECM must be the principal residence of each borrower. Second homes, vacation homes, and rentals are not eligible.
Are you licensed to lend in Georgia?
Yes. Mortgage Capital Services, LLC (NMLS #2694379) is licensed in Georgia and South Carolina. You can verify our licensing through NMLS Consumer Access.
Start here
Talk with us about your Savannah move
Tell us where you plan to buy or what you want to change about your current mortgage. Samantha will follow up to talk through your options.
Important: This page is educational and is not financial, legal, or tax advice, or a commitment to lend. All loans are subject to credit approval, property eligibility, and program requirements. A reverse mortgage is a loan that must be repaid and reduces home equity over time. Reverse mortgage borrowers remain responsible for property taxes, homeowners insurance, and maintenance, and HECM borrowers must complete independent HUD-approved counseling. Proceeds may affect eligibility for some need-based benefits. This material is not from HUD or FHA and was not approved by HUD, FHA, or any government agency. Property tax rules are set by state and county offices and can change; confirm with your county before relying on them. Mortgage Capital Services, LLC NMLS #2694379 · Billy D. Peel NMLS #332044 · Samantha S. Peel NMLS #2685482 · Licensed in Georgia & South Carolina · Equal Housing Opportunity.