What can a reverse mortgage do for you?
The reverse mortgage is a financial tool that can be instrumental in planning for a more secure retirement. We want you to know both the advantages and risks associated with reverse mortgages, and our loan experts make it clear it is not the right choice for everyone. This page briefly describes a few of the key reasons many senior homeowners choose this loan product.
AGE IN PLACE– Access your equity without selling and moving
ELIMINATE MORTGAGE PAYMENT– Reverse mortgages do not require any monthly payments*
ADD CASH TO YOUR MONTHLY BUDGET– Payment to you can be set-up to include regular payment to you each month
ONLY BORROW WHAT YOU NEED-Using the credit line feature you can simple draw the money you need when you need it
So what do you have to do?
To be eligible for a reverse mortgage you must be over 62 yrs old, live in and maintain the home as your primary residence, and continue to pay your property taxes and insurance. You can learn more about all the requirements here.
How can you get started?
Contact us for more information and to get answers to any question you have. Meet in our office or your home. Bring anyone you’d like to our meetings (family, friend, advisor).