A reverse mortgage is an excellent way for seniors (aged 60 plus) to access home equity. With a reverse mortgage, you can borrow up to 50% of your home’s value and use the funds for any purpose you desire. No monthly payments are required with a reverse mortgage, which means you’ll have more monthly cash available to cover your lifestyle expenses.
A reverse mortgage allows you to remain in your home and benefit from its capital growth. There are many ways you can use the funds from a reverse mortgage. You can use the loan to pay for home renovations and maintenance, health care, credit card bills, a new car, education costs for grandchildren, to pay out an existing mortgage, or even for an unexpected emergency.
A reverse mortgage can provide you with the financial security and flexibility you need to enjoy your retirement years.
If you’re interested in learning more about reverse mortgages, we encourage you to contact us or inquire online. Our staff will then arrange for a loan specialist to contact you and answer any questions you may have.