Is Reverse Mortgage Right For You?

Working with our experts will help you to develop a goal and plan for the future. Getting a good reverse mortgage is only the beginning of your future.

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What Is a Reverse Mortgage?

A reverse mortgage loan uses a home’s equity as collateral. The amount of money the borrower can receive is determined by the age of the youngest borrower, interest rates and the lesser of the home’s appraised value, sale price and the maximum lending limit. The funds available to you may be restricted for the first 12 months after loan closing, due to HECM requirements. In addition, you may need to set aside additional funds from loan proceeds to pay for taxes and insurance

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What is Home Equity?

For many homeowners, the equity they have built up in their home is their largest financial asset, typically comprising more than half of their net worth. Yet confusion persists about how to measure home equity and the tools available for incorporating it into an overall personal financial management strategy.

Analyzing Income

Lenders conduct “financial assessments” of every prospective reverse mortgage client during the application process to ensure you have the financial means to continue paying property taxes, homeowners insurance, homeowners association dues, and other property charges.