SafeMoney

Is a Reverse Mortgage right for you?

For most people, their homes are the largest financial commitment they ever make. After paying for their homes for so many years, many retired people do not realize that their home can finally pay them by providing a substantial tax-free income, just when they need it the most. You’ve taken good care of your home over the years, and now your home can take care of you with a Reverse Mortgage.

You will be able to continue living in your home for as long as you like. You’ll make no monthly mortgage payments, and you’ll enjoy the security of extra income, improving your cash flow. What’s more, as your home appreciates, you’ll continue to build equity.

What is a Reverse Mortgage?

A Reverse Mortgage is a loan that allows people age 62 or older to use the equity they have accumulated in their homes over the years to improve their quality of life. By converting equity into income, a Reverse Mortgages lets people stay in their homes and receive cash to use for any purpose—daily living expenses, home improvement or repairs, eliminating debt, in-home health care, traveling, or many other uses. Best of all, you keep the title and keep living in your home.

Tax Benefits

A Reverse Mortgage turns a portion of the equity you have in your home into tax-free money you can use right now. You can receive a lump sum of cash, choose regular monthly payments, have a line of credit, or take a combination of all three.

You make no monthly payments on a Reverse Mortgage. The loan, along with any interest it accumulates, is not paid back until you sell, decide to live elsewhere (you must live in the home at least 6 months out of the year), or die.

Who Qualifies?

Homeowners may well be eligible even if they have a first or second mortgage on the home. The amount of money that you can get through the Reverse Mortgage depends upon the applicant(s) age(s), the program selected, the home’s value, prevailing interest rates, and program lending limits. There are NO income or credit rating qualifications.

Homeowners all over the country have benefited by using a reverse mortgage to secure their financial future. If you are 62 or older and have equity in your home, you may be eligible for a Reverse Mortgage.

Get a Personalized Quote.