REVERSE MORTGAGE BORROWER ELIGIBILITY

In order to be eligible for a reverse mortgage, there are a few requirements:

• You must be a minimum of 62 years old.
• Your home mortgage is paid in full or has balance that can be paid off at closing.
• You live in the home
• Your home is FHA-Approved, such as a single-family or 1 unit owner occupied 2-4 unit home such as a condo or townhome.

As a California reverse mortgage lender, feel free ask us about any additional requirements for our reverse mortgage loans.

WHAT IS A REVERSE MORTGAGE?

A Reverse Mortgage is a type of loan that provides homeowners age 62 and older with the option to turn their home equity into cash to pay off debt, increase monthly income and provide financial stability while still living in and owning their own home. Reverse Mortgages that conform to FHA guidelines are also called HECM loans - Home Equity Conversion Mortgages.

If you need a large sum of cash for a big expense, or just a little more money each month a reverse mortgage may be your answer. With a Reverse Mortgage, you have the flexibility to choose how you want to be paid. You can choose between a lump payment, a monthly payment, or even a line of credit.

As California reverse mortgage lenders, we specialize in the metro areas for LA reverse mortgage loans, San Francisco reverse mortgage loans and San Diego reverse mortgage loans.