Reverse Mortgage for homeowners age 62+

Call
now!

877-271-1421

Reverse Mortgage for homeowners age 62+

Find out how much money you can get from a Reverse Mortgage

Call
now!

877-271-1421

 


 

How is a Reverse Mortgage Different?

Unlike a traditional mortgage or home equity loan, a reverse mortgage:

  • It’s available only to homeowners or homebuyers age 62 and older
  • Does not require monthly mortgage payments
    (You remain responsible for paying property taxes and required insurance)
  • As long as the terms of the loan are met, a reverse mortgage does not have to be repaid until:
    • The last surviving borrower no longer lives in the home as their primary residence
    • Or the home is sold

Common Uses

  • Pay off existing mortgage or other debt, to improve cash flow
  • Create a standby cash reserve
  • Supplement monthly income with a steady stream of funds
  • Make home repairs or improvements
  • Pay for medical bills or in-home care
  • Buy a home

Do You Qualify? Eligibility Criteria

  • You and any other owners of the home (such as a spouse) must be at least 62 years of age
  • The home must be your principal residence
  • You must not be delinquent on any federal debt
  • You must discuss the program with an independent counselor who’s approved by the Department of Housing and Urban Development (HUD) and from a HUD-approved agency
 

To learn more about the benefits of a reverse mortgage from FAR—and how it may help you secure long-term financial independence— please contact us today. Call toll-free 877-271-1421

To learn more about the benefits of a reverse mortgage from FAR—and how it may help you secure long-term financial independence— please contact us today. Call toll-free 877-271-1421