Unlock Your Home's Hidden Treasure Through Reverse Mortgage
Our reverse mortgage program offers an innovative financial solution for homeowners aged 62 or older. By converting a portion of home equity to tax-free funds, homeowners can enjoy greater financial freedom while remaining comfortable in their own homes. Reverse mortgages provide homeowners with access to the equity built up over time - unlike traditional mortgages that require monthly payments - instead offering flexible access to it either as lump sum, line of credit payments or fixed monthly installments.
How Reverse Mortgage Works?
Loan Proceeds
Reverse mortgages provide funds based on the appraised value of your home, your age and current interest rates for your home. As long as ownership remains with you, loan proceeds can be used for anything such as paying off existing debts, medical costs or simply improving quality of life.
No Monthly Payments
One of the major advantages of a reverse mortgage loan is that no monthly mortgage payments are necessary; rather, your loan will be repaid when either selling, moving out permanently, or passing away, freeing you of monthly obligations until then.
Flexible Repayment Options
As soon as a loan becomes due, you or your heirs have two options for paying back its balance: selling the home or utilizing other funds. If the proceeds exceed what is owed, those extra proceeds belong to you or your estate.
Who is Eligible for Reverse Mortgage?
Age Requirement
If you’re considering availing of the reverse mortgage loan, you must meet the 62-year-old or older requirement. All owners named on the property title are subject to this as well.
Homeownership
You must own a primary residence, which can be a single-family home, a condominium, or a multi-unit property with up to four units. Vacation homes and investment properties typically do not qualify.
Equity Requirement
Your ability to borrow money will be based on how much equity you have in your property. The potential amount of funds that are available to you increases as equity increases.
We understand the value of your home and financial security during retirement are of utmost importance, which is why our reverse mortgage program offers an efficient means of tapping into home equity for funding retirement lifestyle maintenance and enjoyment.
Reach out to our expert team now and make the first steps toward unlocking its true worth!