Reverse Mortgage | Age 55 or Older?
In just a few minutes find out how much tax-free cash you qualify for using a reverse mortgage. We will send you a full package explaining your best options.
Reverse Mortgage Or Standard mortgage?
A reverse mortgage is a long-term financing solution that requires no payments until the mortgage is due. It allows qualifying homeowners to convert a portion of their home equity into cash on a tax-free basis while remaining in their principal residence.
With a Reverse Mortgage:
- Full repayment of the mortgage is due when the property is sold or transferred, or when the borrower passes away, moves, or defaults.
- No payments are required until the reverse mortgage is due.
- Eligibility is determined using the borrower’s age and home’s appraised value.
- Interest accrues until the mortgage is repaid, and as such, the home’s equity may decrease as the interest increases throughout the life of the mortgage.
Considering a reverse mortgage is a big decision. Discuss the option with your loved ones, so you are prepared to make the right choices for you and all involved.
A reverse mortgage can help you plan for retirement while keeping your family’s future in mind. Accessible funds help with growing living costs, build a safety net for emergency savings.