Reverse Mortgage

For those 62 and older, a Reverse Mortgage is a financial tool that can truly improve their quality of life. While others use the additional income to go on their dream vacation or to purchase a second home. Whatever's important to you, a Reverse Mortgage gives you the flexibility and freedom to do what you want using the equity you've built in your home.

Key facts of Reverse Mortgages

• There is no monthly payment
• All borrowers must be 62 years or older
• There are no income qualifications
• You own your home - the bank does not
• Maximum loan amount is $417,000
• No repayment is made until the home is sold or the owner permanently moves out
• A Reverse Mortgage is HUD protected so it's safe and secure

Uses for Reverse Mortgages

• Pay for unexpected expenses
• Educational expenses
• Help with medical expenses
• Home improvements
• Vacations
• Purchase a second home
• or anything you want

HUD Protected

Before being approved for a Reverse Mortgage, borrowers are required to meet with a representative of the department of Housing and Urban Development, which insures the loans.

Is a Reverse Mortgage Right for You?

If you are 62 years or older and have equity in your home, a reverse mortgage may be right for you. For additional information on Reverse Mortgages stop by one of our branch offices, call us at 1-800-657-3272 or click here to contact a Reverse Mortgage specialist. They would be happy to meet with you at your convenience to explain the program and process and to review your needs