Cenmark Mortgage is proud to offer Reverse Mortgage loan options for borrowers age 62 and older. Your home can be the most important wealth building tool you have; and it’s time to put it to work for you. Now you can have the freedom to do the things you’ve always wanted. It’s time to stop paying for your home and start letting your home pay for you.
A reverse mortgage is a home loan that allows you to transfer the equity in your home into cash. This cash can be paid to you in monthly installments or in one lump sum. That’s why it’s a reverse mortgage – because it pays you instead of you paying the mortgage.
Also, this allows you to stay in your home without having to make payments for as long as you occupy the property. In general; the older you are, the more your property is worth and the lower the interest rate all means you can borrow more.
You can use the cash you receive from a Reverse Mortgage in many different ways. Here are just a few ideas:
- Home Improvements
- Supplement your Income
- Paying Off Debt
- Paying Property Taxes
|
- Long Term Care Expenses
- Health Care Expenses
- Investments
- Traveling / Vacationing
|
Reverse Mortgage features can also be dramatically easier than a conventional mortgage. You can qualify for a Reverse Mortgage
- Regardless of your Credit Score
- Regardless of your Income or Debt
- Regardless of Employment
You can receive the cash from your reverse mortgage in anyway you choose.
- One Lump Sum Payment
- Scheduled Payments / Over a Set Period of Time
|
- Equal Payments for as long as you live
- Credit Line Accessibility – Use When Needed
|
- Age 62 and Older
- Primary Residence
- Single Family or Multi-Family Residences
- Townhouses or Condos Qualify
|
- You Retain Title to Property
- You Never Owe More Than what your property is worth
- Only Repay When You Sell
|
If you’d like to learn more about Reverse Mortgages; please call us today. Or you can email us at reverse@cenmarkmortgage.com
