Everyone’s needs are different and because of this, there are different types of Reverse Mortgage loans for today’s seniors. We can answer your questions and help guide you as to which Reverse Mortgage product might be best for you.
Fixed-Rate Reverse Mortgages
Lump-sum payout
- Draw 60% of your accessible funds in the first year
- Access the maximum amount of cash to pay off large expenses
Adjustable-Rate Reverse Mortgages
Growing Line-of-Credit
- Most common Reverse Mortgage sought by seniors
- Flexible access to your Line-of-Credit
- Can be used as a standby safety-net for use with unexpected expenses
- Unused principle will increase allowing you access to more funds
Jumbo Proprietary Reverse Mortgages*
Primarily used on loans amounts exceeding FHA loan limits with a cap of 4 million in equity
*Not an FHA product
- Receive the full amount at closing
- You don’t pay mortgages insurance
- Eliminate your monthly mortgage payments
*Not an FHA product
Reverse Mortgage Purchase
Opportunity for those 62 years of age and older who qualify to purchase a new home using a Reverse for Purchase
- Great for empty nester looking to downsize
- No monthly mortgage payments
