What is a Reverse Mortgage?
- All borrowers on the Reverse Mortgage must be 62 years of age or older.
- No income qualification.
- No monthly mortgage payments required.
- Seniors will never have to leave their home.
- Equity is tax-free.
- No repayment of the loan until the last remaining borrower moves out permanently or passes away.
- Proceeds are available in lump sum, monthly payments, line of credit or any combination.*
*not all products have same payment options.
