Stay in your home for as long as you like
A reverse mortgage allows you to withdraw a portion of your home equity, to use in any way you like. When you’re ready to sell your home, or you have passed, the loan is repaid at that time.
The home is still yours
A reverse mortgage doesn’t mean forfeiting your rights as the homeowner, as you or your heirs decide when or if the home is to be sold. When the loan is repaid, 100% of the remaining equity belongs to you, your heirs, or your estate.
No monthly payment
This is unlike a traditional mortgage. In fact, the reverse mortgage pays you in your choice of a lump sum, monthly payments, or a combination of both. The choice is entirely up to you.