Reverse Mortgage

November 17, 2021

A Reverse Mortgage allows borrowers age 62 and older to use the equity in your home to enhance your retirement years. The proceeds are generally available either in a lump sum, a line of credit or monthly payments. There are some credit and income requirements to ensure the taxes and insurance will be paid on the property. Typically, a reverse mortgage is a refinance, although a Reverse for Purchase program allows you to buy a home on a Reverse Mortgage. Click here for more information on Reverse Mortgages.