Senior Home Loans is a direct mortgage lender servicing the Reverse Mortgage Community. Our mission is to help seniors identify the best financial option for them.
If you're 62 or older you may qualify for a reverse mortgage. Reverse mortgages allow homeowners like yourself to tap into equity that you've accumulated over the years in your home, and use these funds however you see fit. Instead of making a monthly payment to your lender, you can elect to actually receive a monthly disbursement from your lender for as long as you stay in your home!
Do you qualify? There are no credit checks, income requirements, or medical evaluations. To qualify you must be 62 or older and have equity in your home.
What can be done with proceeds from a reverse mortgage? That's up to you - proceeds can be used for any purpose.
What's the catch? There is no catch. As long as you live in your home you will not have to repay the reverse mortgage loan. Once you pass away your heirs can elect to refinance the loan into a traditional mortgage, sell the house, or walk away and allow the lender to settle the payoff.
For more information, fill out the request form on the right to receive our Wayne Rogers Reverse Mortgage DVD which outlines the pros and cons of a reverse mortgage.