A reverse mortgage is a financial tool that empowers homeowners 62 or older to stay in their home and convert a portion of their home's equity into cash!
Homeowners 62 or older could use a reverse mortgage to live the life they've always wanted.
A reverse mortgage could provide money to pay off your mortgage, supplement your income, or pay for health care expenses.
The Home Equity Conversion Mortgage (HECM) is the Federal Housing Administration (FHA)'s reverse mortgage program.
Payout options are available either as a lump sum, monthly payment, line of credit or a combination of the three!
Benefits of a reverse mortgage:
- Convert a portion of your home's equity into cash
- Choose a payment option that works for you
- No monthly mortgage payments
- You still pay taxes & insurance
- Still own & live in your home while receiving cash
For more information, call your Quontic Bank loan officer today at 1-800-908-6600 or email us at firstname.lastname@example.org!