Reverse Mortgage Loan
Reverse Mortgages are ideal for people want to utilize the equity in their property for an additional source of income.
With Reverse Mortgages, you take a 1-time payment of the equity in your property, take out a monthly payment of the equity in your property, or take a variation of the both.
Benefits of a Reverse Mortgage Loan
- You can stay in the property for the remainder of your life, with the set payment terms, even if the amount you owe is more than the property’s value.
- A great supplemental form of income.
- No more monthly payments.
- Under some circumstances, you can be in foreclosure and still qualify for a Reverse Mortgage.
- 62 years of age or older
- Must be a primary residence.
- There are Loan-To-Value requirements based on what you presently owe on the home, appraisal, and your age.
To learn more about this please call us today for a free consultation. Our licensed Loan Originators are looking forward to working with you and helping you every step of the way.