Get a FREE quote on a Reverse Mortgage & find out how much you qualify for.
A reverse mortgage is a loan for seniors age 62 and older. HECM reverse mortgage loans are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.
We're here to make the reverse mortgage process a whole lot easier, with the tools and expertise that will help guide you along the way, starting with our FREE Reverse Mortgage Qualifier.
We'll help you clearly see the differences between reverse mortgage options, allowing you to choose the right one for you.
The Reverse Mortgage Process
Here's how our home loan process works:
In recent years, reverse mortgages have been quickly gaining popularity. The product was designed for people with a limited income during retirement who wish to use the equity in their home to cover everyday living and healthcare expenses. The term "reverse mortgage" is derived from the nature of the loan. Instead of the homeowner making monthly payments to the lender, the lender is essentially making payments to the borrower. Of course you are required to continually pay homeowner's insurance, property taxes, and HOA dues (if applicable) if you take out a reverse mortgage, but you are not required to make any mortgage payments on the loan as long as the home continues to serve as your primary residence.
Mortgage rates change every day, and your rate will vary based on your credit score, loan program, and other factors. Get your FREE customized rate comparison below:
