GET THE FACTS ABOUT THE NEW REVERSE MORTGAGE LOAN
What is a Reverse Mortgage? A low-interest federally insured loan that allows senior homeowners to convert a portion of their equity into tax-free cash.
How Reverse Mortgages Work. You may be entitled to receive a lump sum cash payment, monthly payments, line of credit, or a customized plan of all above options.
Use calculator to find out if you qualify and,
if so, how much you may be able to receive.
|Who Can Qualify for a Reverse Mortgage?|
|All Borrowers MUST BE 62 years of age, or older|
|Must occupy home as your principal residence|
Reverse Loans Require No Monthly Payments. You are responsible to maintain your home, pay your real estate property taxes and carry homeowners insurance.
Reverse Mortgage Counseling is Required.
Before you can complete your reverse mortgage application, you must receive a counseling certificate from a counselor approved by HUD.