A reverse mortgage can never cause you to lose your home or force you to move.
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A Consumer's Guide to Reverse Mortgages
Improve your financial position, your quality of life, and your peace of mind!
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Want to stay at HOME?
Live a long, satisfying life in the place where you feel most comfortable. If you are at least 62 years old, a government-backed reverse mortgage can help you:
- Manage your expenses
- Preserve your legacy
- Promote your peace of mind
Maintain Your Independence
A reverse mortgage can give you access to your home equity without having to make monthly loan payments. Instead, you receive tax-free loan proceeds that will not
affect Social Security or Medicare benefits.
You can choose any combination of these flexible payout ooptions at closing:
- A lump sum to cover large expenses
- Monthly installments to supplement income
- A line of credit to draw on as needed
And you can change how you receive proceeds as often as your needs change during the loan term.
Secure Your Financial Future
There are no income, employment or credit requirements. The amount you can qualify for is based on your age, your home's value, its location, and current interest rates.
- You keep title and ownership of your home
- You continue to pay property taxes and insurance
- The amount you owe can never exceed the home's value
Funds received during your loan term, and interest, become due and payable by you or your estate when you sell or permanently leave your home.
The home itself - and remaining equity - belongs to you or your heirs.
Enjoy Your Retirement
Use your reverse mortgage funds for any purpose, including:
- Meeting healthcare expenses
- Remodeling or home repairs
- Reducing credit card debt
- Planning for long-term care needs
- Growing your investment portfolio
Even pay off an existing mortgage and have one less monthly bill to pay.
Secure Your Financial Future
There are no income, employment or credit requirements. The amount you can qualify for is based on your age, your home's value, its location, and current interest rates.
- You keep title and ownership of your home
- You continue to pay property taxes and insurance
- The amount you owe can never exceed the home's value
Funds received during your loan term, and interest, become due and payable by you or your estate when you sell or permanently leave your home.
The home itself - and remaining equity - belongs to you or your heirs.
Raise Your Comfort Level
Talk with a reverse mortgage consultant who specializes in helping senior homeowners make the most of retirement.
- Ask questions
- Get examples
- Learn more
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