You worked hard for your home. Now, your home can return the favor through a reverse mortgage program. This service, typically offered by reverse mortgage brokers, enables you to get the funds you need to achieve short-term financial goals, have peace of mind during your golden years, and live a more comfortable life.
A reverse mortgage, also called a Home Equity Conversion Mortgage (HECM), allows you to use the equity of your home as cash. Reverse mortgage programs provide financial support for low-income seniors. These homeowners can use the funds from the program to pay debts and taxes, home repairs or renovations, medical bills, and everyday expenses.
The following features are present in a reverse mortgage:
Enjoy the following benefits when you get a reverse mortgage:
Retention of Homeownership - As long as you pay the homeowner’s insurance and property taxes and comply with the terms of the loan, you can maintain the ownership of your home
No Required Monthly Mortgage Payment - You won’t need to make any regular payments in a reverse mortgage. You receive funds from your reverse mortgage lender instead.
Protection from a Housing Market Decline - The Federal Housing Administration (FHA) insures the reverse mortgage loan. If the loan ends up amounting to more than the home’s value when sold, the government insurance will take care of the difference.
When applying for our reverse mortgage program, it’s important that you read the following disclaimers:
No government agencies and departments have endorsed, sponsored, reviewed, or approved the content in this marketing advertisement.
On top of these disclaimers, we would like to remind individuals interested in getting a reverse mortgage to speak with an expert regarding possible risks and advantages. The FHA requires applicants to join an independent counseling session to make sure that they sufficiently understand the process behind the reverse mortgage program and confirm if the program is suitable for their needs.
Once you have carefully weighed your options, get in touch with Primary Residential Mortgage, Inc.
If you're ready to take the next step, work with a team that can provide the personal attention you deserve. Our mortgage company has helped over 200,000 borrowers fulfill their dream of home ownership. We'd love to help you too!GET A QUOTE NOW