Is a Reverse Mortgage right for me?
You have worked hard to purchase and maintain your home over the years. With a Reverse Mortgage, you can take advantage of your home equity by borrowing against it, without selling your home or making monthly payments on a home equity loan.
Reverse Mortgage facts:
• Borrowers must be at least 62 years of age
• Borrowers must own a home with sufficient equity
• Borrowers retain ownership and occupancy of their home
• No income or credit qualification
• No monthly mortgage payments (ensure timely payment on property taxes, Home Owner Association HOA fees)
Use a Reverse Mortgage for:
• Medical expenses - prescription drug costs, annual health insurance deductibles
• Consolidating debt - pay off your auto loan or credit cards
• Home improvement - new roof, remodel your kitchen or bathroom
• Travel - take your dream vacation
• Cash for daily living expenses
• Improve your quality of life with no mortgage payment
Benefits of a Reverse Mortgage:
A Reverse Mortgage allows homeowners to take control of their lives by increasing their financial independence and self-reliance, help plan for future health care needs, make home improvements and much more.
• No risk to other assets
• Tax-free income
• Retain ownership of the home
• Live independently
• Leave an early inheritance
• Repayment Options
Learn more about Reverse Mortgage – Get a FREE Consultation