Reverse Mortgages

While a reverse mortgage is not right for everyone, it is important that every consumer be aware of what they are. At The Mortgage Company, LLC we have an expierenced and dedicated staff available to assist you with education, provide in-home consultations and answer any questions you may have.

What is a Reverse Mortgage?

A reverse mortgage is a unique type of loan that allows seniors to convert the equity they have accumulated in their home into cash. Unlike traditional mortgages where monthly payments are made to repay the loan, with a reverse mortgage there are no monthly payments required for the life of the loan. Seniors are finding that a reverse mortgage is a valuable tool to improve their quality of life and knock down financial barriers to independent living.

Benefits to a Reverse Mortgage

  • No monthly payments required as long as you live in your home.
  • Increased monthly income
  • All proceeds are Tax Free and may be used for any purpose
  • You can pay off an existing mortgage
  • No income or credit qualifying required.
  • You retain full ownership and control of your home.
  • No prepayment penalty
  • Insured by the Federal Government
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    Additional Links

     Frequently Asked Questions       Reverse Mortgage Examples      Step by Step Process      

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