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Learn more about reverse mortgage benefits.

What are the Highlights of a Reverse Mortgage?

SOME REVERSE MORTGAGE HIGHLIGHTS INCLUDE:

  • Pay off your existing mortgage
  • Supplement your retirement
  • Pay your property taxes
  • Cover medical expenses
  • Make home repairs or improvements
  • Pay for long-term care
  • Consolidate debt
  • Financial planning and managing everyday expenses

A Reverse Mortgage Can Help With Healthcare Costs

Healthcare issues are a critical financial concern for many seniors. If you are a homeowner, 62 years of age or older, you can use your reverse mortgage loan proceeds to cover a variety of medical and healthcare expenses, such as:

  • Home modifications
  • Prescriptions and medications
  • Long-term care insurance
  • Physical therapy
  • Mobility and medical equipment
  • Supplemental medical insurance
  • In-home care

A reverse mortgage allows you to choose the kind of health or personal care you desire, in the setting you prefer—in your own home.

How you choose to use your reverse mortgage benefits is entirely up to you.

WHAT ARE THE REVERSE MORTGAGE Basic Parameters?

Reverse Mortgage Parameters included but are not limited to:

  • You must be 62 years of age or older
  • You must live in the home as primary residence
  • The home must meet minimum FHA property standards
  • You must own the home or be able to pay off the existing mortgage or other liens with the reverse mortgage proceeds
  • Borrowers must have received the required independent third party reverse mortgage counseling
  • Eligible Properties

    • Single-Family Homes
    • 2-4 Unit Properties
    • FHA Approved Condominiums
    • Townhomes
    • Planned Unit Development

    Property eligibility may vary based on the reverse mortgage you choose. For more information on reverse mortgage parameters, talk to one of our Reverse Mortgage Professionals today.

 

Reverse Mortgage Calculator

How much money may be available?

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