Reverse Mortgages

 

How Do I Get Paid?

1.     All at once in a lump sum.

2.     Fixed monthly payments for the rest of your life.

3.     A line of credit.

4.     A combination of these.

 

How much money can I get?

The amount you can borrow depends on

1.     your age

2.     the current interest rate

3.     the appraised value of your home. 
 

GENERALLY:

*     the more valuable your home is

     *     the older you are

          *     the lower the interest

               *     the more you can borrow.