Get Cash Out of Your Home through Reverse Mortgage Loans

Is a Reverse Mortgage Right for You?

If you have been considering a Reverse Mortgage, there are several advantages to this unique loan program. For homeowners 62 and older, accessing the equity in their home without a monthly payment and increasing their monthly cash flow is by far the biggest benefit of the program.

As home values have appreciated over the years, seniors have struggled to keep up with rising costs of living. A Reverse Mortgage allows many seniors to access additional income from their home’s equity, tax free. Most importantly, there are no mortgage payments to be made for as long as the homeowner lives there.

The Reverse Mortgage program is insured by the federal government through the Federal Housing Administration (FHA). All Reverse Mortgage lenders will calculate your available equity based on age, house value and current interest rates.

Discover What a Reverse Mortgage Can Do For You. Click on the following links to find out more:

Reverse Mortgage Process
Reverse Mortgage Q and A
Reverse Mortgage— Terms and Definitions
You’ve Received Your Funds. Now What?
Children of Seniors

Do You Qualify?

• Borrowers must be at least 62 years of age.
• They must occupy the home as a primary residence.
• Income or credit requirements are not needed.
• Mobile homes are generally not eligible for a reverse mortgage.
• The eligible properties are single-family, one-unit residences, but some programs also accept two- to four-unit, owner-occupied residences. These also include some condominiums, cooperatives, planned unit developments, and manufactured homes

Reverse Mortgage Highlights

• NO repayment for as long as you, or your co-borrower, occupy the home
• NO taxes are owed on the loan cash
• NO pre-payment penalty
• You retain the title to your home
• You may sell your home at any time
• Cash may be used for any purpose
• Cash may be received in a variety of ways
• Social Security and Medicare benefits NOT affected
• After your estate pays the lender, all remaining equity is paid to your heirs

Still have some questions about the Reverse Mortgage program?

Call or us today and one of our Mortgage Specialists will answer any questions you may have about this program.