We can help homeowners, who are over age 62, draw fixed monthly payments from the equity in their homes, for as long as they live in their home.  Click to apply online.

Whether you need a lump sum to pay an unexpected hospital bill or a stream of regular advances to supplement your monthly income, our reverse mortgages offer a payout option to address your particular financial needs. Unlike traditional mortgages or home equity loans, no repayment of the reverse mortgage loan is required until you no longer occupy the home as your principal residence. Compared to traditional mortgages that you pay back each month, the reverse mortgage reverses the direction of the payments and the payments come to you.

Payout Options can be built to suit your family's needs...

• term option...You may receive equal monthly payments for a fixed period of time selected by you
• tenure option...You may receive equal monthly payments for as long as you occupy the home as a principal residence.
• line of credit option...You may draw up to a maximum amount of cash at times and in amounts of your choosing.

Key Benefits

• You receive a monthly payment each month rather than having to make a loan payment.
• You do not repay the loan as long as the home remains your principal residence.
• tenure option...You may receive equal monthly payments for as long as you occupy the home as a principal residence.  Your income is not considered when qualifying for the loan.
• line of credit option...You may draw up to a maximum amount of cash at times and in amounts of your choosing.  
• Apply online using our simple loan application form.
• You cannot be forced to sell or vacate your home if the money you owe on the loan exceeds the value of the loan, as long as you maintain your property and pay all property taxes.
• Loan proceeds can be used to re-model or repair your home, purchase a new automobile, or help finance a grandchild's education.

 Reverse Mortgage Facts

• 50% of the net worth of baby boomers born between 1946-1955 is their home equity according to an AARP study of Federal Reserve data.
• Most lending institutions do not offer or know about reverse mortgage products.
• Money from a reverse mortgage is tax free.
• There are currently five varieties of reverse mortgages.  Two of these which represent 90% of the reverse mortgages issued, the Home Equity Conversion Mortgages (HECM), are federally insured by the FHA.
• The loan limit (maximum amount that can be borrowed) in 2004 is $290,319 for HECMs.
• Reverse mortgage calculator helps estimate upfront costs and cash available for withdrawal from the equity in your home.