FIND OUT IF A REVERSE MORTGAGE IS RIGHT FOR YOU
What is a Reverse Mortgage? A low-interest federally insured loan that allows senior homeowners to convert a portion of the equity in their home into tax-free cash.
|Who Can Qualify for a Reverse Mortgage?|
|All Borrowers MUST BE 62 years of age, or older|
|Must occupy the home as your principal residence|
|No credit, income or health requirements to qualify|
|Social Security and Medicare are not affected|
|No Taxes are paid on cash from reverse mortgages|
|No repayment for as long as you occupy your home|
Reverse Mortgages Require No Monthly Payments. You are responsible to maintain your home, pay your property taxes and carry homeowners insurance.
We Do Not Make Loans ... We Make Sense.
HUD's Federal Housing Administration (FHA) created Reverse Mortgages to give seniors the opportunity to access the equity that they have in their homes. Reverse Mortgages are also known as HECM's, Home Equity Conversion Mortgages. If you decide that a Reverse Mortgage is the right choice, you must receive independent counseling from a certified HUD Approved Counselor to make sure that you have had all your questions answered.