Reverse Mortgages for Seniors

Reverse Mortgages have come a long way and can be an excellent option to make life easier and more comfortable for seniors. A Reverse Mortgage is a loan that allows seniors 62 or older to use the equity they’ve accumulated in their homes to borrow money.  As long as the Reverse Mortgage is outstanding, no monthly payments are required. There are no income qualifications because the size of the loan depends on the applicant’s age, home value and current interest rates. The loan matures when the borrower no longer occupies the home as a primary residence. 

This money can be used for several things for example, pay for in home health care, supplement monthly income, do home repairs, take vacations or even purchase a new home.  Contact your Nebraska Mortgage Expert today for more details to see if this product might be right for you.