We now offer Reverse Mortgages, adding another loan option to our already expansive list of products.
“A reverse mortgage is a type of home loan for older homeowners that requires no monthly mortgage payments. Borrowers are still responsible for property taxes and homeowner’s insurance. Reverse mortgages allow elders to access the home equity they have built up in their homes now, and defer payment of the loan until they die, sell, or move out of the home. Because there are no required mortgage payments on a reverse mortgage, the interest is added to the loan balance each month.” (source: Wikipedia)
Watch either of the videos below to learn more about Reverse Mortgages!