Reverse Mortgage Loans
Reverse Mortgage Loans are offered to borrowers who are 62 years of age or older. Reverse Mortgages can be used for any purpose including paying off an existing mortgage. Borrowers make no monthly payments on a Reverse Mortgage and no repayment of the Reverse Mortgage Loan is required as long as the borrower occupies the home.
Current owners stay on title during the length of a Reverse Mortgage. Borrowers do not relinquish ownership in their home.
There is no income qualification with a Reverse Mortgage and minimum credit scores are not used.
Borrowers continue topay property taxes and homeowner’s insurance on the home while the Reverse Mortgage is outstanding.
Rates are very attractive and there are several loan options available.
Contact us today to discuss the benefits of a Reverse Mortgage Loan – 203.294.1409.