We'll help you choose the best option.
Ready To Begin Your Loan Application?
Reverse Mortgages
A reverse mortgage is a low-interest loan for senior homeowners that uses a home’s equity as collateral. The loan amount is a percentage of the home’s value determined by the age of the youngest homeowner. The loan does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away.
At that time, the estate has approximately 12 months to repay the balance of the reverse mortgage or sell the home to pay off the balance. All remaining equity is inherited by the estate. The estate is not liable if the home sells for less than the balance of the reverse mortgage.
Reverse Mortgage Details
Outliving Reverse Mortgages
A reverse mortgage cannot be outlived. As long as at least one homeowner lives in the home (keeping taxes and insurance current) the loan does not need to be repaid.
State Inheritance
In the event of death or in the event that the home ceases to be the primary residence, the homeowner’s estate can choose to repay the reverse mortgage or put the home up for sale.
If the equity in the home is worth more than the balance of the loan, the remaining equity belongs to the heirs.
Advantages
|
Low-interest loan for senior homeowners that uses a home’s equity as collateral. |
|
Does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away. |
|
Instead of making monthly payments, the homeowner receives payments. |
|
The owner cannot be forced to foreclose or forced to vacate the home because of a missed mortgage payment. |
|
Protect your hard-earned savings. |
|
Possibility to move into a new, smaller home. |
Customer Testimonials
WOW what a GREAT company to work with. If you're looking for exceptional customer service, an awesome professional team who will get the work done for you, COME HERE. I was helped by Norma Carballo and I recommend her ...
Laura Gonzalez
I have great expiriences. Nothing but great comments about the customer service. I highly recommend them... thanks.
Jenny Couso
I've financed two homes with this company already. Great customer service. They guide you through the entire loan process to make it as easy as possible for the customer. Will definitely continue doing business with this company in the future.
Silverio Gomez
Great service. If you are looking for financing call them. Very accurate information, rates, processing. Awesome team.