Reverse Mortgage Refinance
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Seniors at age 62 may qualify for reverse mortgage refinance.
This type of mortgage allows you to take cash out of your home equity and convert to one lump sum or spread over period of time. There are many advantages to this type of refinance, but you should deeply understand it before getting it completed.
- Must be over age the of 62 to qualify for refinance
- Loan in based on adjustable mortgage rate
- Make no monthly payments on reverse mortgage
- Cash out is tax exempt because it's from home equity
- Must have free and clear or low loan balance to refinance
Do your home work on reverse mortgage programs
We do advise you to review our information about reverse mortgage programs. There are limits to how much cash you can take depending on your age, and repayment guidelines you need to be aware of before completing the transaction. Talk to an expert lender to find out more details about reverse option and what other programs may be available.
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