What is a reverse mortgage?

A reverse mortgage is a loan for seniors 62 and older who want live in their home and convert some of the equity into cash. You have three different options or a combination of all three. You can get a lump sum of cash after the closing. You can have monthly payments for life or a set amount of time. Or we can set up a line of credit to draw at your will. All while living in your home without a mortgage payment. You can live in your home as long as you like without ever making a mortgage payment.