Reverse Mortgages
HELPING DREAMS BECOME REALITY
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Why Should I
Refinance My Loan?
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What is a Home
Equity Loan?
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STEP -1
What is a Home
Equity Loan?
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Reverse Mortgages
Reverse mortgages are a type of home loan available to homeowners who are 62 years or older. With a reverse mortgage, homeowners can convert a portion of their home equity into cash without selling their home. Unlike traditional home loans, a reverse mortgage does not require monthly mortgage payments. Instead, the loan is repaid when the borrower no longer uses the home as their primary residence.
The loan amount depends on the borrower's age, home value, and current interest rates. Reverse mortgages can be used to supplement retirement income, pay off debt, or cover unexpected expenses. However, reverse mortgages can have higher interest rates and fees than traditional loans and may affect eligibility for certain government benefits. It's important to carefully consider the pros and cons before deciding if a reverse mortgage is the right option for you.
Reverse Mortgage Summary
1) Reverse mortgages are home loans available to homeowners who are 62 years or older.
2) With a reverse mortgage, homeowners can convert a portion of their home equity into cash without selling their home.
3) Reverse mortgages do not require monthly mortgage payments, but the loan must be repaid when the borrower no longer uses the home as their primary residence.
4) The loan amount depends on the borrower's age, home value, and current interest rates.
Reverse Mortgage Summary
5) Reverse mortgages can be used to supplement retirement income, pay off debt, or cover unexpected expenses.
6) Homeowners must continue to pay property taxes, insurance, and maintenance costs while they have a reverse mortgage.
7) It's important to carefully consider the pros and cons of a reverse mortgage before deciding if it's the right option for you.
Custom home loans designed to help you reach your goals,
with real people who guide you every step of the way,
for the life of your home loan.
“We believe that a well planned mortgage leads to long term wealth.”
- From a Very Wise Man
What customers are saying about us
Andrew went above and beyond. I’d 100% recommend him. He was always ready to answer any questions my wife and I had and was always quick to respond.
Dave Tatter
Andrew and his team were extremely helpful to us during our home search and buy. Andrew went above and beyond to be flexible with providing us with the mortgage that best served our needs. We would highly recommend Andrew.
Mark Reightneour
Andrew went above and beyond. I’d 100% recommend him. He was always ready to answer any questions my wife and I had and was always quick to respond.
Dave Tatter
