We are experts in closing Reverse mortgages for purchasing a new property or refinancing your existing loan. A Reverse Mortgage is perfect for Seniors who are at least 62 Years old and own their home or are looking to buy a new property and never have a mortgage payment for life! Real estate taxes, insurance and maintenance fees continue to be the responsibility of the homeowner.
What is Reverse Mortgage?
A Reverse Mortgage is a HUD/FHA insured loan for seniors 62 Years of age or older, who either own their own home and are looking To refinance or wish to purchase a new home with no mortgage payments for life! The homeowner would still be responsible for real estate taxes, insurance and other property charges. This is a non-resource loan, with no prepayment penalty!
- One Senior has to be 62 years of age, the spouse can be younger
- No mortgage payment for life!
- Continue paying real estate taxes, insurance and maintenance as usual
- Competitive rates