Live the Retirement You Deserve

GET PAID TO RETIRE

WITH A REVERSE MORTGAGE

WHAT IS A REVERSE MORTGAGE?

A reverse mortgage is a type of loan typically available to homeowners aged 62 and older, though we now have lenders offering it to those as young as 55.

This loan allows you to convert part of your home equity into cash.

Unlike a traditional mortgage where you make monthly payments to the lender, in a reverse mortgage, the lender makes payments to you.

The loan is repaid when the homeowner sells the home, moves out permanently, or passes away.

HOW A REVERSE MORTGAGE WORKS

1. Eligibility: Homeowners must be at least 55 years old and have at least 50% equity in their home.

2. Application: You’ll need to provide financial information and complete a counseling session to ensure you understand the terms and implications.

3. Loan Amount: The loan amount is based on the home’s value, the borrower’s age, and current interest rates. Older borrowers with more valuable homes can typically access more funds.

4. Receiving Funds: Choose how to receive your funds—either as a lump sum, monthly payments, a line of credit, or a combination of these options.

5. No Monthly Payments: You don’t make monthly mortgage payments. Instead, the loan balance increases over time as interest and fees accumulate.

6. Staying in Your Home: You can stay in your home as long as it remains your primary residence, you maintain the property, and you keep up with property taxes and insurance.

7. Repayment: The loan becomes due when you sell the home, move out permanently, or pass away. Typically, the home is sold to repay the loan, and any remaining equity goes to you or your heirs. If the loan balance exceeds the home’s value, it’s a non-recourse loan, meaning you or your heirs won’t owe more than the home’s value at the time of sale.

Keep Your Home

Keep Your Memories

Reverse mortgages can provide financial flexibility and stability in retirement, allowing you to leverage your home’s equity without having to move.

Don't make life harder than it already is.

Gift yourself the opportunity you truly deserve

• Supplement Retirement Income: Provides additional funds to support living expenses during retirement.

• Stay in Your Home: Allows homeowners to remain in their home while accessing its equity.

• Flexible Payout Options: Offers various ways to receive the loan proceeds to suit individual needs.

• Non-Recourse Loan: Ensures that borrowers or their heirs will not owe more than the home's value when the loan is repaid.

Reverse mortgages can provide financial stability for retirees by leveraging their home equity without the burden of monthly mortgage payments.

Unlock the equity in your home with a reverse mortgage and gain financial flexibility in retirement.

If you have any questions or want to learn more about how a reverse mortgage can benefit you, contact us today.

Don't hesitate to contact us now to explore your options and secure your financial future!