Reverse Loan Program
Seniors can gain greater financial security using a reverse mortgage to either purchase a new property or refinance their existing home.
Contact us to learn how reverse mortgages can help give you financial peace of mind.
Key Benefits and Requirements
Allows borrowers to convert equity in their home to cash
U.S. government insured FHA loan program
No monthly mortgage payments
Borrower must be 62 years or older
Borrowers receive additional monthly income
There must be equity in the home
BORROWER MUST MAINTAIN AND LIVE IN THE PROPERTY
A reverse mortgage is designed for homeowners age 62 and older. By borrowing against their equity, seniors get access to cash to pay for cost-of-living expenses late in life, often after they’ve run out of other savings or sources of income. With a reverse mortgage, instead of the homeowner making payments to the lender, the lender makes payments to the homeowner. Reverse mortgages can provide much-needed cash for seniors whose net worth is mostly tied up in the value of their home.