Recent Posts
- What Makes a Reverse Mortgage Line of Credit a Flexible Option?
- Why Consider a Reverse Mortgage for Debt Consolidation?
- Why Consider a Reverse Mortgage as a Supplement to Long-Term Care Insurance?
- Why Are Reverse Mortgage Misconceptions Inaccurate?
- What Information Is Covered in Reverse Mortgage Counseling?
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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