Working Caregiver- Seniors Stay Home - Reverse Mortgage

A reverse mortgage allows seniors to use the equity in their homes to improve their quality of life and live independently.

Reverse Mortgage Allows Seniors to Age at Home

All borrowers must be 62 years and older
No repayment is made until the home is sold or the owner permanently moves out or passes away
You will never owe more than the value of your home
No income qualification
Interest is paid at the time the loan is repaid
When the loan is due, your heirs have choices-they can repay the loan and keep the house, or sell the home and repay the loan
Social Security benefits and Medicare are generally not affected by a reverse mortgage-consult your tax advisor
You own your home-the lender does not take control of the title
Interest rates are adjustable and can change periodically; however, this DOES NOT affect the amount you will receive
Closing costs and fees incurred can be financed as part of the loan; there is zero to minimal out of pocket costs to you