Reverse Mortgage

A reverse mortgage is a loan made to a homeowner who is at least 62 years-old and wishes to convert the equity in their home to cash.

Unlike a home equity loan, the homeowner does not make monthly payments to the lender. In fact, with a reverse mortgage, monthly payments are made by the lender to the homeowner. A reverse mortgage isn’t repayable until the borrower no longer occupies the home as their primary residence.

Benefits of a Reverse Mortgage

  • Convert the equity of your home into cash
  • Receive a stable monthly income
  • Receive a lump sum or stream of payments

Contact a mortgage specialist for more details, 800-283-4550.

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