Reverse Mortgage
A reverse mortgage is a great option for those who are 62 years old or older and have considerable equity. It was designed to give financial relief to someone who owns their home but may now only have a fixed income such as Social Security. A Reverse Mortgage can be structured in a number of ways, including:
- Provide relief by having no mortgage payment at all
- The borrower might be able to receive a fixed monthly income
- Some elect to instead receive a lump sum of cash
- Others structure a Line of Credit
The entire loan balance becomes due and payable when the borrower dies, moves away permanently, or sells the home. Reverse mortgages can be a great option to provide some financial relief, but they are not the right move for everyone. Counseling is required in order to determine if this is the right financing option.
To determine if a reverse mortgage is the right call, please reach out to one of our Loan Officers.
Privacy Policy | ©2023 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity.
CA DRE #01215943 | AZ Corp BK #0906702 | NV MB 2941/164 | NMLS #1850
Licensed by the Dept. of Financial Innovation and Protection under the CRMLA
NMLS consumer access site
Regulated by the Colorado Division of Real Estate | Licensed under the Oregon Consumer Finance Act
Texas Disclosure Notice
https://www.apmortgage.com/state-license-info
Not available in New York | Licensed in AR, AZ, CA, CO, FL, ID, MT, NV, OR, TN, TX, WA
