Reverse Mortgages: Turn Your Home Equity Into Cash Without Monthly Payments

Program Summary

Reverse mortgages allow homeowners aged 62 or older to tap into their home equity as cash without monthly mortgage payments. This program helps retirees maintain financial independence, manage expenses, and live more comfortably by accessing the equity they’ve built up over the years. The loan is repaid when the home is sold, no longer occupied, or the borrower passes away.

Key Benefits

• No monthly mortgage payments: Frees up cash flow for other needs.
• Access your equity: Convert your home’s value into tax-free cash.
• Stay in your home: Retain ownership while using your equity.
• Flexible payout options: Choose from a lump sum, monthly payments, or a line of credit.

Program Details

• Eligibility: Borrower must be 62 or older and own the home outright or have significant equity.
• Property Requirements: Primary residence only; single-family homes, HUD-approved condos, or manufactured homes on permanent foundations are eligible.
• Loan Amount: Based on the borrower’s age, home value, and current interest rates.
• Repayment: The loan balance is due when the home is sold or no longer the borrower’s primary residence.

Who Is This Program Best For?

• Homeowners aged 62+ who want to supplement retirement income.
• Retirees looking to manage medical expenses or pay off debt.
• Homeowners who want to stay in their home while accessing equity.

Next Steps

Ready to unlock the equity in your home? Contact us today to learn more about reverse mortgages and how they can support your retirement goals.