Free Reverse Mortgage Quote for Seniors


A REVERSE MORTGAGE LETS YOU
stay in your home
and fund the important things
If you or your spouse is age 62 or older, you may be eligible for a reverse mortgage that can convert your home from a cash flow vacuum cleaner into a cash flow fan as you arrange for a more comfortable retirement!
Reverse Mortgage for Seniors

What Is A Reverse Mortgage?

Reverse Mortgages enable eligible home owners access to money they have built up as equity in their homes. They are primarily designed to strengthen seniors' personal and financial independence by providing them with the funds they need to stay in their homes without the burden of monthly mortgage payments.

The major reverse mortgage eligibility requirements are that applicant(s) must be at least 62 years of age or older, own and occupy a home whose mortgage has been paid in full, or with a relatively low mortgage balance remaining in comparison to the value of the home.
Reverse Mortgage for Seniors

How a Reverse Mortgage
Revamped Martie Miller's Finances

Now that you have the basic information about reverse mortgages, let’s take a hypothetical case.

Martie Miller is entering her later retirement years and has built up considerable equity in her home.

Here are her wishes:
Reverse Morgage Example

With a Reverse Mortgage, Martie's Wishes Come True...

Cash at closing: ~$100K
Line of Credit: ~$150K
No Monthly Mortgage
Stay in Her Home as Long As she Likes...

About Reverse Mortgage About Reverse Mortgage Solution
The above chart shows how a reverse mortgage can empower someone like Martie to secure her golden years. To find out how a reverse mortgage can help you, contact mortgage banker John Hanson for a free quote.
Reverse Mortgage for Seniors

Why Reverse Mortgages are More Senior-Friendly
than Home Equity Loans

Reverse mortgages and home equity loans both use your property as collateral; however, the two differ fundamentally.

With a home equity loan, when repayment of the loan is in jeopardy due to a loss of income, the borrower(s) can be forced to sell or vacate their home. On the other hand, with a reverse mortgage, the lender gets repaid when the home is sold or is no longer used as the owner's primary residence.
HOME EQUITY LOAN REVERSE MORTGAGE
Uses Property As Collateral Yes Yes
Repayment to Bank Monthly None
Your Access to Funds As Long As Your Payments Are Current As Long As You Live In Your Home
FHA Insured No Yes
Reverse Mortgage for Seniors

Equity Protection:
Reverse Mortgage Vs. Equity Loan

The equity in your home is what makes it possible to enjoy the benefits of liquidity that a reverse mortgage offers. Even as you finance the next stage of your retirement, you still want there to be a considerable amount of equity in your home so you can enjoy other options later in life or leave assets of substantial value to your heirs.
HOME EQUITY LOAN REVERSE MORTGAGE
Maximum Loan Amount Up to 80% of Home Value Based on Your Age and Property's Value**
Main Criteria to Qualify Ability to Repay From Income Ability to Repay at Sale or Refinancing
** Contact mortgage banker John Hanson to find out how much you are qualified to borrow.
Reverse Mortgage for Seniors

Regulated and Guaranteed by the
US Government for Safety and Security

Reverse Mortgages are fully insured by the Federal Housing Administration (FHA). The Department of Housing and Urban Development (HUD) participate in regulating this unique loan program and the home mortgage industry as a whole.

FHA has been the nation’s largest source for reverse mortgages since 1989. Their protection guarantees that no debt can go against other assets in your estate, or even be passed to your heirs.

You continue to own your home and can still leave it to your children or their heirs. If you live in your home until you pass on, your heirs will have the choice to either pay the Reverse Mortgage balance and keep the home or sell the home and keep the remaining equity.

Reverse Mortgage for Seniors