Reverse Mortgage

Available to homeowners 62 years and older

A reverse mortgage is a home equity loan that allows you to access some of the equity in your home as either a lump sum, line of credit and/or monthly income.

The loan amount is based on:

  • Current interest rates (1YR CMT + Margin)
  • Age of the youngest borrower
  • Appraised home value (current FHA Lending Limit is $822,375)

Reverse mortgage Benefits

  • Government-insured by the FHA = predictability and security
  • NO minimum credit score
  • Fee Caps, Interest Rate Caps

Reverse Mortgage Requirements

  • Continue living in the home as a primary residence
  • Must continue to pay property taxes & homeowners insurance
  • Maintain upkeep on the property
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