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Could you use a Reverse Mortgage in Retirement?

Senior couple sitting on couch

Throughout your working life, you’ve dreamed of retirement. But wait a minute! How’s your retirement income going to pay for property taxes, unexpected medical bills, rising energy and utility expenses, and the overall cost of living?

If you are 62 or older and own your home, you may qualify for the government insured Reverse Mortgage. A reverse mortgage may allow you to access your home’s equity while retaining ownership of it.

We’ve prepared an essential retirement resource entitled, “What You Should Know About Reverse Mortgages”.

In it, you’ll learn:

  • A reverse mortgage may be easier to qualify for than a typical loan
  • No more monthly mortgage payments* (Borrowers must continue to make monthly/periodic property tax, insurance and maintenance payments, and may risk default if payments are not made.)
  • Tax-free monthly cash flow and/or line of credit to use anytime*
  • Cash received can be used for any purpose
  • Closing costs may be financed as part of the loan
  • FHA-insured … for peace of mind and security

*American Financial Network, Inc. is not acting on behalf of or at the direction of HUD/FHA or the federal government. Home must be primary residence. AFN is not a tax or financial advisor. Consult a licensed tax professional and appropriate government agencies regarding deductibility of interest and other effects on taxes. Other requirements and conditions may apply. Please contact your loan representative for more information. Products not available in all areas.

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