Retirement is the reward for a life’s worth of hard work. It’s time to take steps toward making this phase the best it can be, and that includes considering all your options for funding it. A reverse mortgage unlocks your largest asset, your home equity, and puts it to work on the retirement goals most important to you.
Reverse Mortgages are especially attractive to…
- Borrowers who want a foundation for a plan that begins today.
- Borrowers wanting to stay independent.
- Home owners wanting to secure their home and age in place.
- Those wanting to relieve concern over unexpected expenses.
- Borrowers looking to make in-home care affordable.
- Borrowers that may need funding for insurance policies and other financial products.
- Those who want to purchase the perfect home for their lifestyle.
- Individuals wanting choices in their retirement life.
Designed for retirement
Specifically designed for homeowners age 62 and older who have sufficient equity in their home.
No loan payments
As long as you continue to pay taxes and insurance and meet loan terms, monthly payments are not required. Interest and fees are added to the balance over time. Repayment of the loan is not required monthly, freeing your income for other uses.
Replaces current mortgage
Proceeds from a reverse mortgage first pay off existing mortgage lines, allowing you to enjoy retirement without the monthly obligation of a house payment.
Can be used to purchase a new home
You can get a reverse mortgage when buying a new home, requiring less cash to purchase and therefore increasing your buying power.
Your largest asset, unlocked
Receive your funds as a lump sum, line of credit, or monthly payments.