Reverse mortgages

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Reverse mortgages (also called "home equity conversion loans") give older homeowners the ability their built-up home equity without selling their home.Choosing between a monthly payment, a line of credit, or a one-time payment, you can get a loan amount determined by your home equity. Paying back your loan isn't necessary until after the borrower sells the home, moves (such as to a retirement community) or passes away. You or your estate representative must pay back the reverse mortgage amount, interest , and finance fees when your property is sold, or you can no longer call it your primary residence.

Are you Eligible?

The conditions of a reverse mortgage loan generally include being 62 or older, using the property as your main living place, and holding a low remaining mortgage balance or having paid it off.

Homeowners who live on a fixed income and need additional money find reverse mortgages helpful for their circumstance. Social Security and Medicare benefits are not affected; and the funds are nontaxable. Reverse Mortgages may have adjustable or fixed interest rates. Your house is never in danger of being taken away from you by the lender or put up for sale against your will if you outlive your loan term - even if the property value goes under the loan balance. Call us at (707) 252-2700 to look into your reverse mortgage options.

Reverse Mortgage calculation provided by ReverseVision

Reverse Mortgage

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