Reverse Mortgage loans were designed specifically for senior-aged homeowners to access some of the money that has built up over the years as equity in their home.
Homeowners 62 years of age or older obtain reverse mortgages for many reasons, but the most important is that a reverse mortgage makes it possible for people to stay in their own home at a time when the cost of living is getting higher and higher.
For FHA Home Equity Conversion Mortgages (HECM loans), eligible property types include: single-family homes; two to four unit homes with one unit occupied by the borrower; manufactured homes (built after June 1976); FHA approved condominium projects; properties in planned unit developments (PUDs); townhouses; and properties held in a living trust.
Contact GuardHill Financial today to learn more about Reverse Mortgages. We are uniquely prepared and excited to begin working with you!