What is a Reverse Mortgage?
A Home Equity Conversion Mortgage is an FHA Federally Insured
loan that allows homeowners age 62 and over to access a portion
of the equity in their home without ever having to make another
What are the Benefits?
When is it paid back?**
*Free lender credit toward home appraisal available for customers who meet loan requirements. Subject to loan approval/closing. Homeowners are still responsible for paying property taxes, insurance, and property maintenance.
** The total amount to be repaid depends upon the total amount of all cash advances, including interest. The amount will never be more than the value of the home at the time the loan is to be repaid.