Reverse Mortgages are an exciting way for homeowners
age 62 and higher to enjoy financial security and stability while staying in the comfort of their homes.*
Rethinking Your Home’s Equity
A reverse mortgage allows you to draw upon the equity in your home
without having to make any reverse mortgage payment for as long
as you continue to live there, or until the loan becomes due.
Approval Is Easier Than You Think
The main eligibility requirement is that you need to be age 62 or higher.
There is also a financial assessment, which includes income and
The Security to Stay at Home…
If staying in the comfort of your home for the rest of your life
is important to you, you can do it with a FHA-Insured Home Equity
Conversion Mortgage (HECM). Use it to pay off your existing mortgage (if you have one),
cover unexpected medical expenses or supplement your retirement income to make life more enjoyable.
…And the Freedom to Choose
You can use the funds from your reverse mortgage as you choose. There are no restrictions.
Paying off your existing mortgage balance allows you to be free from mortgage payments,
and you have the flexibility to draw upon the remainder of your funds and spend it in
any way you see fit. Supplement your income, pay your annual property taxes,
remodel your home, buy a car or visit your grandchildren – it’s up to you.
Multiple Ways to Access Your Funds
Choose how to receive your funds:
— Up to 60% of proceeds in a single lump sum
— Regular monthly installments
— Draw from a line of credit at your discretion
— Any combination of these options
Plus, your available credit
increases each month!
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