It’s a loan option that can help make it easier for homeowners and homebuyers age 62 and older to live a more comfortable retirement.
You continue to live in your home and retain title to it. As with any mortgage, you must meet your loan obligations, keep current with property taxes, insurance, maintenance, and any homeowners association fees.
You can choose to take your funds as a lump sum; line of credit that you can tap as needed; a steady stream of monthly advances for a set period of time, or as long as you live in the home; or a combination of these options. Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other payment options are available only for adjustable rate mortgages.
See what NBC News and Time Money are reporting on Reverse Mortgages
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- Eliminate Your Monthly Mortgage Payments*
- Secure your home for the rest of your life.*
- Create a Safety Net for your retirement.
- Get Cash in your hands!
All While Retaining Ownership Of Your Home!
*You have the flexibility to choose whether you make a mortgage payment or not. Simply continue the upkeep of your home, pay your property tax and insurance payments, and comply with all other loan terms.
THINK A REVERSE MORTGAGE ISN'T FOR YOU?... THINK AGAIN!
- Must be 62+
- Home must be owner occupied
- Have full ownership of your home
- Have sufficient equity in your home
- No Strict Credit Requirements
- Minimal Income Verification