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REVERSE MORTGAGE

What Is A REVERSE MORTGAGE

Unlike traditional mortgages, a reverse mortgage does not impose the burden of monthly payments. This may be an especially attractive option for borrowers on a fixed income.

  • Eliminate or reduce monthly mortgage payments
  • Consolidate debt.
  • Pull cash out of your home equity.
  • Protect home equity from declining home markets.
  • Help pay for in-home care.
  • Help homeowners stay at home and age independently

Unlike traditional mortgages, a reverse mortgage does not impose the burden of monthly payments. This may be an especially attractive option for borrowers on a fixed income.

REVERSE MORTGAGE REQUIREMENTS

  • The age requirement is 62 or older.
  • You must own the home and it must be your primary residence.
  • You must have enough equity in the home – at least 50%, usually.
  • If you are 62 years old, but your spouse is under the required reverse mortgage age, you can still get a HECM, but your spouse will be considered a non borrowing spouse and will not have access to your loan proceeds.
  • Borrowers must continue to pay their property taxes and homeowners insurance and maintain the property.
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GET STARTED ON YOUR REVERSE MORTGAGE

Our reverse mortgage programs may help you eliminate or reduce your monthly payment, consolidate debt and convert equity you have in your home to cash. Give us a call for a free consultation to find out more.

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Take OUT CASH, REDUCE YOUR MONTHLY PAYMENT, OR CONSOLIDATE DEBT

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