GET THE FACTS ABOUT REVERSE MORTGAGE LOANS
What is a Reverse Mortgage? A low-interest federally insured loan that allows senior homeowners to convert a portion of their equity into tax-free cash.
How Reverse Mortgages Work. You may be entitled to receive a lump sum cash payment, monthly payments, line of credit, or a customized plan of all above options.
Use our calculator to find out if you can qualify and how much cash you may expect to receive.
|Who Can Qualify for a Reverse Mortgage?|
|All borrowers must be 62 years of age, or older|
|Must occupy home as your principal residence|
|No taxes are paid on cash from a reverse loan|
Reverse Loans Require No Monthly Payments. You are responsible to maintain your home, pay property taxes and carry homeowners insurance.