Is a Reverse Mortgage right for you?

55+ Years of Age

A reverse mortgage is intentionally designed to allow homeowners 55 or older to retire comfortably in their own home with tax free money.

Live the life you want

Travel, pay for medical expenses, invest, help your children buy a home, pay off debts, and more.

Up to 55% of the value of your home

Access up to 55% of the appraised value of your home tax-free based on your age and

property location.

No Monthly Payments

Unlike traditional mortgages, there are no mortgage payments for as long as you live in your home.

Poor Credit

Your credit score doesn’t impact the amount of money you can borrow regardless of whether you’re looking to buy a home or simply pay off nagging debt.

Pay Off Debt

Pay off your high interest debt and eliminate your monthly payments to live more comfortably.

Myths & Facts

Question: Is it possible to lose my home?

Answer: No, you are the owner of your home. You will never be asked to move or sell as long as your property taxes and insurance are in good standing, you live your home and the property is kept in good condition.

Question: Do I have to make mortgage payments?

Answer: Nope! There are no payments required until you choose to move or sell your home. However, you do have the option to make advance interest payments to reduce the future principal.

Question: Do I get the equity left in the home?

Answer: Yes, the home equity is all yours. In fact, over 99% of homeowners with reverse mortgages have money left over after the mortgage is repaid. On average, the amount left is more than 50% of the value of the home. Remember, the absolute maximum amount a bank will lend on this program is 55% of the appraised value of the property. Reverse mortgages are inherently conservative to protect all parties interests.

Common Questions

Myth: You can not get a reverse mortgage if you already have a traditional mortgage

Fact: As long as you don’t exceed the maximum Loan-To-Value (LTV) permitted through the reverse mortgage program, we will pay out your existing mortgage/debts from the proceeds of the reverse mortgage.

Myth: The bank owns your home

Fact: You will always retain title, ownership and control of your home and can decide what to do with the property (i.e., sell, renovate, etc.)

Myth: You can be forced to sell or foreclose at any point at the bank’s discretion

Fact: Reverse mortgages are lifetime products. As long as you pay the property taxes and home insurance, live in the home, and keep the property in good condition the property remains in good condition, your loan won’t be called even if the property value drops. Accordingly, you can stay in your home indefinitely.

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