Reverse Mortgage
Get a FREE quote on a Reverse Mortgage & find out how
much you qualify for.
The Lowdown on Reverse Mortgage Loans...
Why a Reverse Mortgage?
A reverse mortgage pays off your existing mortgage, should you have one, by allowing you access to the home equity you’ve worked so hard to build. Any money left after paying off your existing mortgage is available to use as you see fit.
Our Reverse Mortgage Rates Are Low & Our Process is Quick & Painless
A reverse mortgage is a loan for seniors age 62 and older. HECM reverse mortgage loans are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.
We’re here to make the reverse mortgage process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Reverse Mortgage Qualifier.
We’ll help you clearly see the differences between reverse mortgage options, allowing you to choose the right one for you.
The Reverse Mortgage Loan Process
Here’s how our Reverse Mortgage Loan Process works:
- Check Eligibility: Must be at least 62 years old and own your home, with sufficient equity.
- Counseling Session:Attend a required counseling session to understand the loan terms and conditions.
- Choose a Lender:Compare lenders that offer reverse mortgages and their terms.
- Submit Application: Complete the loan application with necessary documents, including proof of homeownership and age.
- Home Appraisal: Lender orders an appraisal to determine the home’s value.
- Loan Processing:Lender reviews your application and approves the reverse mortgage.
Benefits of the Reverse Mortgage Loan Process
Here’s Benefits of the Reverse Mortgage Loan Process:
- No Monthly Payments:Borrowers don’t have to make monthly mortgage payments.
- Access to Home Equity: Converts home equity into cash for retirement needs.
- Stay in Your Home:Allows you to live in your home without selling.
- Flexible Payment Options: Receive funds as a lump sum, monthly payments, or a line of credit.
- Non-Recourse Loan: You’ll never owe more than the home’s value when the loan is repaid.
