Is a reverse mortgage loan right for you?
Reverse Mortgages are great for anyone that is at least 62 or older with equity in their home. These loans allow for an increase in cash flow and supplement income while never having to make a mortgage payment. There are three categories of borrowers that a Reverse Mortgage is good for: someone in need of money now, someone looking to enhance their lifestyle, and someone looking to use their home equity as a financial plan without dipping into their retirement funds.
Benefits of a reverse mortgage loan
- Never make another monthly mortgage payment
- Increase your cash flow
- Stay in your home
- Helps secure retirement
- Pay for healthcare expenses
- Enhance lifestyle, travel, home upgrades
Reverse mortgage loan eligibility requirements
- At least 62 or older
- Equity in your home
- The home must be your primary residence
- Ability to pay taxes, insurance, and HOA
Contact us for more eligibility requirements and to see if this makes sense for your scenario!