Reverse Mortgage Loan
A Reverse Mortgage is a loan that affords seniors, 62 or older, the benefit of converting the equity in their home into money without making monthly repayments, giving up title to the home or selling their home. The proceeds are received as one time lump sum payment, a line of credit, tenured monthly payments or a combination of these options. Because you are using your own homes equity, the money is tax free*. The percentage of equity made available to you depends largely on your age, the current interest rates and value of your home, so the older you are and the more your home is worth, the more money will be available to you.
Please click HERE to go to our Reverse Mortgage Home page to learn more about this exciting product line.
*consult your tax advisor