In its simplest form, a reverse mortgage allows you to use the home equity you’ve established over the years for whatever financial need you have. With a reverse mortgage, you don’t have to worry about making monthly payments as we pay you instead.
Many Americans may be eligible for a Home Equity Conversion Mortgage, but unfortunately, do not understand its benefits. HECM’s allow retirees to live in their home, basically free of the stress and worry about paying bills and impending inflation costs. Though there are a number of qualifying factors, reverse mortgage programs are meant to be a viable alternative to a second traditional or conventional mortgage.
Contact Manuel Mortgage to learn more about reverse mortgages. We’ll explain the benefits and conditions in detail so you can make an informed decision. We’ll also be happy to discuss other loan types with you, including conventional, VA, FHA, USDA, and more. Reach out to us today!