Reverse Mortgages
Reverse Mortgages
For homeowners age 62 or older, a reverse mortgage can provide a way to access a portion of your home’s equity as cash without selling your home or making required monthly mortgage payments.
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Whether you’re looking to supplement retirement income, pay off an existing mortgage, cover healthcare expenses, make home improvements, or simply enjoy greater financial flexibility, a reverse mortgage may be an option worth exploring.
Who Is Eligible
Age Requirement
Borrowers must be age 62 or older, although some proprietary programs may be available to borrowers as young as 55.
Homeownership
You must own your home or have a low enough mortgage balance to qualify, and the home must be your primary residence.
Ongoing Responsibilities
You’ll need to continue paying property taxes, homeowners insurance, and any applicable HOA dues, while keeping the home in good condition.
How It Works
Access Your Equity
Depending on the program, you may be able to access your home’s equity as a lump sum, monthly payments, line of credit, or a combination.
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No Required Monthly Mortgage Payments
There are no required monthly mortgage payments as long as you continue to meet the loan requirements. You remain the owner of your home and stay on the title.
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When the Loan Is Repaid
The loan is typically repaid when the home is sold, you permanently move out, or the last borrower passes away.
We arrange but do not make loans.