A reverse mortgage from Finance of America Mortgage allows you to unlock the equity in your home, so that you can maintain or elevate your lifestyle.
* Available proceeds is negative because you many need to bring this much cash to close.
It looks like you may need to bring cash to close, but a Reverse Mortgage may still be beneficial depending on your unique situation.
The illustration and figures above are an estimate based on the value and age you provided. This is the amount you may be eligible for before fees. It is not a loan commitment and does not mean you have been approved. All borrower’s must meet all loan obligations, including living in the property as the principal residence and paying all property charged, including property taxes, fees, and hazard insurance. The borrower must maintain the home. If the borrower does not meet the loan obligations the loan could be called due.
Here are some thought starters on how you can optimize your retirement with a reverse mortgage:
|•||Pay off your current home loan and eliminate mortgage payments*|
|•||Supplement your retirement income with tax-free funds**|
|•||Fund medical or long-term care needs|
|•||Pay for home improvement projects|
|•||Purchase a more suitable home to better fit your lifestyle|
|•||Establish a line of credit to offset future expenses|
|•||Fulfill your travel dreams|
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