A Reverse Mortgage Will Convert Your Home Equity Into Cash!
Stay In Your Home! Never Have To Repay!
If you’re a senior, age 62 or older, then you may be eligible for the Reverse Mortgage program.
A Reverse Mortgage actually pays you cash, in one lump sum or over a period of time, based upon the amount of equity you have in your home. Unlike a traditional home equity loan or second mortgage, you never have to repay the reverse mortgage until you no longer use the home as your principle residence or fail to make the mortgage and property tax payments.
You may use the money from you reverse mortgage on anything you like. Take a vacation, buy a new car, help a loved one with college education, supplement your retirement income or pay off a long standing debt. It’s your money! Spend it on whatever you want.
- You must be 62 years of age or older
- Own your home free and clear or have a low mortgage balance
- Have the financial ability to maintain payment on taxes and insurance
- You must live in the home as your primary residence
- You are also required to receive free consumer information from a reverse mortgage counselor before you get the loan
- Your home must be a single family residence or 2-4 unit home with at least one of the units occupied by you, the homeowner
If you think you’re a good candidate for a Reverse Mortgage, give us a call today!