Reverse Mortgage

OVERVIEW: A Reverse Mortgage is a Government insured loan program that is available to homeowners or homebuyers who are 62 years of age and doesn’t require a monthly mortgage payment.

The loan to value calculation is based on current interest rates, age of the youngest borrower and the appraised value of the home you are financing.

Borrower(s) must occupy the home, continue to pay their own taxes and insurance and maintain the home according to FHA requirements.  Credit scores ARE NOT applicable to the Reverse/HECM product.

Many homeowners don’t realize how easy it is to qualify for a Reverse Mortgage. Call your Evergreen Home Loans Branch near you to find out how easy it really is.