Reverse Mortgage

Live in Your Home While Unlocking Its Potential

Reverse mortgages offer an innovative way to tap into your home’s equity, empowering you to stay in your home as long as you like while potentially receiving additional income. Whether you’re looking to boost your retirement savings, reduce monthly expenses, or fund your dreams, a reverse mortgage can help.

If you’re 55 or older, our expert home loan team is here to guide you through every step. We’ll work with you and certified Reverse Mortgage Counselors to ensure you fully understand the process, benefits, and impact on your family’s future.

What is a Reverse Mortgage?

Reverse mortgages allow eligible homeowners to convert a portion of their home equity into cash—without the need to sell or make monthly mortgage payments. These loans are designed for retirees who want to enhance their financial flexibility while maintaining ownership of their homes.

You can choose how to receive your reverse mortgage proceeds: as a line of credit, a lump sum, monthly payments, or a combination. There’s no monthly mortgage payment required, but you’ll still be responsible for property taxes, homeowner’s insurance, and maintenance. The loan balance becomes due only when the home is sold or no longer serves as your primary residence.

Reverse mortgages offer a range of benefits, including:

Financial Security: May provide access to tax-free cash* to support your retirement goals.
Flexibility: Choose the payment structure that works best for you.
Ownership Retention: Stay in your home while enjoying its benefits.

Why Consider a Reverse Mortgage Now?
Recent updates to reverse mortgage programs make them safer, more affordable, and more versatile than ever.

Increased Protection
Borrowers benefit from enhanced equity preservation tools, including stricter loan limits and mandatory mortgage insurance.

Lower Costs
Competitive rates and reduced fees make today’s reverse mortgage a viable alternative to traditional home equity lines of credit or loans.

Strategic Financial Planning
A reverse mortgage line of credit features a growth option, making it a powerful addition to a retirement strategy. It can help mitigate portfolio risks, ensure savings last longer, and provide a reliable safety net during market downturns.

How Can I Use Reverse Mortgage Proceeds?
Reverse mortgages are a key component of modern retirement planning. Here are some practical ways to use your home equity:

Pay off an existing mortgage and eliminate monthly mortgage payments.
Create a financial safety net for unexpected expenses, healthcare, or home repairs.
Supplement your income with monthly payments tailored to your needs.
Fund “aging in place” expenses, like home modifications or caregiving.
Purchase a new home better suited to your retirement lifestyle.
Delay Social Security benefits for a larger lifetime payout.
Preserve investment accounts during market dips with a “standby” line of credit.

Clarifying Common Misconceptions
We understand that reverse mortgages may seem unfamiliar or complex. Let’s address a few of the most common concerns:

Will I Lose My Home? No. You’ll remain the owner of your home as long as you fulfill your loan obligations, such as paying taxes and insurance and maintaining the property.
Is It Too Expensive? With today’s competitive rates and low fees, reverse mortgages are often comparable to other home equity products—and can even save money in the long run.
Will My Heirs Be Responsible for the Loan? Reverse mortgages are non-recourse loans, meaning you or your heirs will never owe more than the home’s value when the loan is repaid.
Is It Only for Those in Financial Trouble? No! Many homeowners use reverse mortgages as part of a proactive financial plan to enhance their quality of life, manage risks, and achieve long-term goals.

Ready to Explore Your Options?
Our team is here to help you unlock the potential of your home equity. Whether you’re planning to age in place, relocate, or simply improve your financial security, a reverse mortgage could be the perfect solution.

Contact us today to learn more about how a reverse mortgage can work for you!

CONTACT A MORTGAGE PROFESSIONAL

* OBEE does not provide legal, tax, or accounting advice, please consult your own legal and/or tax advisors before making any financial decisions.

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Live in Your Home While Unlocking Its Potential

What is a Reverse Mortgage?

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