How to shop for reverse mortgages in Illinois
Recent Posts
Recent Comments
- zrevers on Today’s Seniors Are More Worried About Money Than Ever
- zrevers on Today’s Seniors Are More Worried About Money Than Ever
- money investment advice on Today’s Seniors Are More Worried About Money Than Ever
- financial advisor help on Today’s Seniors Are More Worried About Money Than Ever
- dept of edu on Today’s Seniors Are More Worried About Money Than Ever
Archives
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- April 2015
- March 2015
- January 2015
- October 2014
- September 2014
Categories
Borrower Eligibility
There a few basic requirements to qualify for a reverse mortgage:
- You and your spouse must be at least 62 years of age.
- Your home must have enough equity to consolidate all existing mortgages.
- Your primary residence must be FHA-approved such as a single family home.
Loan Amount is Based On
- Youngest borrower’s age
- Current interest rate
- Lesser of appraised value or the FHA insurance limit
Customer benefitsinclude
- Eliminates monthly mortgage payments
- Increases your purchase power
- Preserves your cash
Reverse Mortgage For Purchase