Get a quote on a Reverse Mortgage & find out how much you qualify for.
A reverse mortgage is a loan for seniors age 62 and older. HECM reverse mortgage loans are insured by the Federal Housing Administration (FHA) and allow homeowners to convert their home equity into cash with no monthly mortgage payments.
We're here to make the reverse mortgage process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our Reverse Mortgage Qualifier.
We'll help you clearly see differences between reverse mortgage options, allowing you to choose the right one for you.
The Reverse Mortgage Process
Here's how our home loan process works:
Reverse mortgages are loans offered to homeowners who are 62 or older who have equity in their homes. The loan programs allow borrowers to defer payment on the loans until they pass away, sell the home, or move out. Homeowners, however, remain responsible for the payment of taxes, insurance, maintenance, and other items. Nonpayment of these items can lead to a default under the loan terms and ultimate loss of the home. FHA insured reverse mortgages have an up front and ongoing cost; ask your loan officer for details. These materials are not from, nor approved by HUD, FHA, or any governing agency.
A reverse mortgage pays off your existing mortgage, should you have one, by allowing you access to the home equity you've worked so hard to build. Any money left after paying off your existing mortgage is available to use as you see fit.
Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below: