You have worked hard your whole life. Your retirement is a time for you to relax and live life on your own terms.
By applying for a reverse mortgage, you can supplement your income and make more of your retirement dreams come true.
What is a Reverse Mortgage?
A reverse mortgage is a lending product for seniors. If you have enough equity in your home, you can borrow against it.
You then receive the funds as cash to use as you please.
Experience Freedom and Financial Flexibility in Retirement
For senior homeowners, a reverse mortgage opens the door to financial freedom. No one but you controls how you use your funds.
Here are some ways that California seniors use reverse mortgage money:
- To repair or upgrade their homes
- To make down payments on vacation homes
- To purchase a new automobile
- To repair an automobile
- To pay off high-interest debts
- To create an emergency fund
- To make it easier to pay monthly bills
- To pay off medical bills
- To finance a business
- To pay for college
- To take a trip
Whatever use you have in mind for a reverse mortgage, you can do it. You have total freedom.
Benefits of a Reverse Mortgage in California
- No one else can tell you how to use this supplement to your income. It is your cash and your choice.
- There are typically no taxes on reverse mortgage funds.
- You can receive the reverse mortgage funds in installments, in a lump sum, or through a line of credit.
- You can stay in your home for the rest of your life if you keep up with your mortgage payments, property taxes, homeowner’s insurance and maintenance costs.
- The reverse mortgage does not come due until there is a maturity event like the death of the last borrower or you decide to sell the house.
- Your peace of mind will increase knowing you have access to more cash when you need it.
Are You Eligible for a Reverse Mortgage?
You may qualify for a reverse mortgage if you meet the following requirements:
- You or another borrower is 62 or older
- You are current on all home maintenance payments
- You pass an assessment of your income, credit score and tax history
- There is enough equity in your primary residence
Apply Now for a Reverse Mortgage in Tustin or Nationwide
Whether you want to pad your retirement finances in Tustin, Irvine, Anaheim, Los Angeles, or anywhere in California, we can help you take out a reverse mortgage. Please give us a call today at (949) 751-6940 to schedule your consultation. We work with senior homeowners in all 50 states. Let’s get you the supplement to your income you need for a comfortable retirement.