Reverse Mortgages

Reverse mortgages enable mature homeowners to use the equity in their primary home without having to sell their home.

Here’s how they work:

Based on the equity that has accumulated in the home you can receive a lump sum, a monthly payment or a line of credit. You continue to live in your home and do not have to make any payments unless you sell your home, move to a retirement home or pass away. If you sell the home or no longer live in it as your primary residence the reverse mortgage plus interest are repaid. The interest can be fixed or adjustable, the money is non-taxable and it does not affect social security or Medicare benefits.

Here’s what you need to qualify for a reverse mortgage:

• You must be at least 62 years old
• Have zero or a low balance against your home
• The home must be your primary residence

Getting your mortgage is as easy as