Reverse Mortgage Refinances
Reverse Mortgages is a FHA insured loan. No minimum credit score is required. It allows seniors, 62 or older, to access equity in home and convert to cash. No monthly payments are required from borrower*. The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. The borrower can receive monthly payments, set up a line of credit, partial cash in hand, or obtain complete lump sum from the equity in their home. Reverse mortgages are for borrowers primary residence only. Single family Homes, Double Wide Manufactured homes, and Multi Family home qualify.
This material is not from HUD or FHA and has not been approved by HUD or a government agency.