A Home Equity Conversion Mortgage (Reverse Mortgage) insured by FHA is an important financial option that lets homeowners age 62 and older tap into the equity they've built in their homes and receive loan proceeds they can use for a variety of needs. This mortgage has helped many seniors reach financial security and offer peace of mind. While we are not FICO driven, we still have some credit requirements. This product comes in fixed rates and variables. Borrowers will maintain homeownership and continue to be on title.
Here are some examples and reasons seniors apply for this product:
- Fund in-home care
- Pay for medical expenses
- Home upgrades or repairs
- Supplement income with monthly installments
* PAY only your property taxes, home owner's insurance and HOA dues
FHA Reverse Mortgage is a non-recourse loan, regulated and safe. Contact me to find out the truth about Reverse Mortgages.
As life expectancies continue to lengthen, seniors regularly outlive their retirement savings and sometimes struggle to supplement fixed incomes. Although families care deeply for their aging relatives, the cost of supporting them financially in their later years can cause added stress to an already delicate situation.
If you are like many people aged 62 or older,
We Are Open Mortgage