INTRODUCTION TO REVERSE MORTGAGES

A Reverse Mortgage is a home loan, used for any purpose, where seniors 62 and older (and in some cases as young as 55 years old), can access the equity (cash) built up in their home. It can also be utilized to purchase a home should you desire to be free of having to make a monthly mortgage payment.

It is called a Reverse Mortgage because although you borrow money from a lender, the lender makes monthly payments to you, rather than you making monthly payments to the lender, or they provide you with a lump sum either in cash or accessed when you want through a credit line. Funds can be used to pay off existing debt or as you see fit. All interest is paid at the end of the loan, rather than in the beginning.

View frequently asked questions on our: FAQ Page

Some Of The Benefits Of A Reverse Mortgage:

• Strengthen your personal and financial independence.
• Help pay for health care or other family needs, retire early, defer social security to maximize payments, purchase a home without monthly payments, or simply travel the world, etc.!
• You retain title to your home as long as you maintain the property tax and insurance payments.
• The loan is only retired when the last surviving borrower passes, when the house is sold by you or your heirs, when all borrowers move out of the house, or when the property is refinanced.
• You retain your Medicare and Social Security benefits.
• Obtain your funds via a growing credit line, a lump sum distribution, a monthly payment guaranteed for life, a monthly payment that you determine for a specific term or a combination of all these options.
• All funds are tax free.
• In most cases there are no income or credit requirements. Qualification is based on the age of the youngest borrower (or non-borrowing spouse if applicable), the value of your home and the prevailing interest rate.

All California Mortgage, 1101 Fifth Avenue, Suite 220, San Rafael, CA, 94901, United States 18003714545 inquire@allcalifornia.com

© 2019-2024 American Pacific Mortgage Corp. 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. All California Mortgage is a division of American Pacific Mortgage Corporation - NMLS #1850 / DRE #01215943 | 1101 Fifth Avenue, Suite 220, San Rafael, CA 94901 Branch NMLS 888828 | (800) 371-4545
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