With the rising costs of healthcare coverage, a Reverse Mortgage can give seniors a financial safety net in order to pay for healthcare costs, including helping to pay for in home care.
Home repairs and updates can be costly. If you haven’t been able to afford updates or regular maintenance, a Reverse Mortgage loan could be a great option to afford those needed repairs or updates.
Do you think having access to funds could be a smart call? By opening a Reverse Mortgage as a line of credit, you will have access to funds when and if you need them.
With a reverse mortgage you are not required to make monthly mortgage payments. That means improved cash flow every month. Of course, if you want to make an occasional payment, that’s okay too!
Request more information and talk to a Reverse Mortgage expert.
Know the facts as you move forward. We will review all detials, options and create a plan just for you.
Once you know your Reverse Mortgage options moving forward is not only easy, it's rewarding.
Take a minute and answer these easy questions to get started.
Reverse Mortgages, also known as a HECM (Home Equity Conversion Mortgage), allows homeowners age 62 or over to access a portion of the equity in their homes without the requirement of a traditional monthly mortgage payment. Please note that the borrower remains responsible for property taxes, homeowners insurance and home maintenance.
You are eligible to apply for the HECM Loan Program if you are age 62 or older and live in the property as your primary residence.
The property can be a single family home, a multi-unit property (such as a duplex or fourplex) a townhome, a manufactured home or condominium.
No. Because the proceeds from a reverse mortgage are a loan, they are not considered income to the borrower and therefore are not taxable. Please consult a tax professional for tax advice.
No. There are no limitations on how you may use the money.
Answer the questions to connect with a Reverse Mortgage Specialist.
Take a minute and answer these easy questions to get more information.
"Please Note: the information in this flyer is based on an FHA HECM (Federal Housing Administration Home Equity Conversion Mortgage) mortgage product, which is a type of mortgage loan. There are fees associated with this loan as well as compounding interest. The loan is not a government benefit and must be repaid. There is no guarantee of financial security, and the consumer is responsible to pay the property taxes, homeowners insurance, and property maintenance fees independent of the loan, which can be a significant cost. The consumer faces a risk of foreclosure if they do not meet these obligations. For more information about the FHA HECM reverse mortgage product visit http://portal.hud.gov/hudportal/HUD?src+program_offices/housing/sfh/hecm/hecmabout"
© 2022 PMB Inc. – Coast Capital, Home Loans Mortgage Division . Equal Housing Lender | Corp NMLS #1734144 All Rights Reserved.