Many senior homeowners aged 62 years or older have withdrawn the equity within their home to make their Golden Years shine! They always own their home but have the financial flexibility they need for a more affordable retirement.
The Home Equity Conversion Mortgage has been around since 1989. Pay off your existing home mortgage with this program and appreciate the flexibility of having no more mortgage payments. Yet, some may choose to still make an interest only payment or choose to sell their home in the future and use available profits to transfer to that warmer climate near grandchildren.
Depending upon your house's value, your age and what is owed on your home... some clients receive a monthly income stream, a credit line for future needs, or pay off debts and become more financially able. Our reverse mortgage lenders help seniors convert home equity into cash for retirement, medical bills, travel, healthcare, house repairs, extra income and so much more!