Reverse Mortgage
A Loan with No Monthly Payment,
Designed for Seniors
Why Seniors Choose a Reverse Mortgage
- No required monthly mortgage payments
- Access home equity without selling your home
- Multiple payout options to fit retirement needs
- FHA-insured protections for borrowers and heirs
Reverse vs Traditional Mortgage
Key differences compared to a traditional mortgage:
- No monthly mortgage payment*
- Loan balance increases over time
- Repayment occurs when the home is sold or no longer occupied
*Tax and Insurance payments are still applicable
To qualify for a Reverse Mortgage (HECM), borrowers typically must:
- Be at least 62 years old
- Live in the home as their primary residence
- Show sufficient home equity
How Reverse Mortgage Funds Can Be Received
- Lump sum
- Line of credit
- Monthly installments
- Combination of options
Common Uses for a Reverse Mortgage
- Eliminate existing mortgage payments
- Pay for home improvements or accessibility upgrades
- Cover everyday living expenses
- Increase retirement cash flow
You retain ownership of your home
Title remains in the homeowner’s name, provided loan terms are met.
Not sure if a Reverse Mortgage is right for you?
Our advisors will help you compare options and find the best fit for your situation.
Contact A Mortgage Advisor