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    • Available to senior homeowners (age 62 and older, or if married, at least one spouse is at least 62) who have substantial equity in their homes and would like to access that equity
    • Administered and insured by the Federal government through HUD and FHA
    • Funds can be used for any purpose that the borrower might choose
    • The payments can be received as a lump sum, in monthly installments, through a line of credit, or some combination of any of the three
    • No monthly mortgage payments are required (borrower must maintain property taxes, homeowners insurance and HOA dues as applicable)
    • The loan comes due upon sale of the property or when the borrower is no longer living in the home as a primary residence
    • The borrower is not required to repay anything above and beyond the home’s value at the time of repayment, regardless of how much money may have been drawn
    • Funds received are not subject to income taxes (consult your tax professional)

 

 

 

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Office : 866-777-6209
5110 Carillon Point
Kirkland, WA 98033
info@reversemortgagedirect.net
NMLS#: 195766

Reverse Mortgage Calculator

Reverse Mortgage Calculator

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We will be happy to assist if you have any questions regarding Reverse Mortgage for income or for purchases.