Reverse Mortgage

A reverse mortgage is a government insured loan program that allows senior homeowners to convert a portion of the equity in their home into usable cash.

The money from a reverse mortgage can provide seniors with the financial security they need to fully enjoy their retirement years. The reverse mortgage is aptly named because the payment stream is "reversed." Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you.

The concept is simple. A reverse mortgage simply allows you to withdraw a portion of that equity, use it any way that you like, stay in your home for as long as you like, and when you are ready to sell your home, the loan is repaid. There are no tax consequences, nor do you forfeit any of your rights as the homeowner.

There are three basic requirements to qualify for a reverse mortgage:

1. Homeowners must be 62 years of age or older,
2. The home must be your primary residence, and
3. The type of home and the condition must meet standard HUD guidelines.

Why choose a Reverse Mortgage?

Thousands of people each month get to a better place by taking advantage of the benefits of a reverse mortgage.

• Increase your monthly income
• Eliminate debt
• Make home improvements
• Enjoy retirement

Find out if a Reverse Mortgage is right for you. Take a moment to fill out an application or call to speak with an experienced Loan Officer today.