REVERSE MORTGAGE
Reverse Mortgage
Retirement is the reward for a life’s worth of hard work. It’s time to take steps toward making this phase the best it can be, and that includes considering all your options for funding it. A reverse mortgage unlocks your largest asset, your home equity, and puts it to work on the retirement goals most important to you.
The Benefits of a Reverse Mortgage
- Homeowners 62 and older, can tap into their home’s equity with a growing line of credit and money you can use for anything.
- A reverse mortgage can pay off your existing mortgage, leaving you with more money each month.
- You still own your home. Your name remains on the title.
- You can use the money to fulfill an immediate need or to use in the future.
- Creates options and remain financially independent
- Relieve concern about unexpected future expenses
- Access funds for In-home care
How Reverse Mortgages Work
- You borrow money based on value of your home, your age, and current interest rates.
- The loan will first pay off your existing mortgage (if you have one). The rest of the money is yours to use however you want.
- You can make payments if you want, but it is not required.
- You can choose to receive your proceeds in the form of a lump sum, monthly payments, a line of credit, or any combination of the three.
- You are still responsible for paying property taxes, homeowners insurance, and home maintenance costs.
Why your should choose the loan geeks for your reverse mortgage
- You don’t have to sacrifice great service to get a great rate on your home loan. We offer a Full Service home loan experience!
- We are an experienced Reverse Mortgage lender processing reverse mortgages every day. In fact, due to their unique and specialized needs, we have a dedicated team that does nothing but handle reverse mortgages for our clients.
- The Loan Geeks at Finance of America Mortgage are available to answer your questions by phone and email. We are here to assist you through the entire home loan process.
I am interested in a reverse mortgage. What is my next step?
Talk to a Loan Geek Home Loan Expert!
Because of the specialized nature of reverse mortgages, and the unique needs of every individual borrower, we prefer to consult directly with each borrower about their needs and options. Answer a few quick questions on the contact request and we’ll have a Loan Geeks Home Loan Expert call you shortly.