Structured for seniors age 62 and up, a reverse mortgage on your property allows you to receive payments from a lender on the equity of your home. Those seeking funds for the expenses that can incur with age can take advantage of reverse mortgage rates and use the value of your property now, only to be paid back after you sell or leave the home, or the homeowner passes away.
Reverse mortgages are an incredible tool for supplementing income. There are very specific qualifications for people who qualify for the reverse mortgages solutions offered by US Mortgages. Learn more about the eligibility requirements for reverse mortgages and the kinds of reverse mortgages we have available.
Our reverse mortgage solutions can provide older residents with much needed financial security. Your regular mortgage payments can be eliminated, while you receive payments from the lender on the equity of your home. You can continue living in your home while collecting payments, and are not required to repay the mortgage until you leave the home.
With a reverse mortgage, you do not risk losing your home. So long as property taxes and homeowner's insurance continues to be paid, your home cannot be taken from you.
Reverse mortgages allow homeowners to convert the equity they've put into their home into supplemental income. In Colorado, reverse mortgage lenders pay homeowners one of two ways during the term of a reverse mortgage rate: a lump sum or monthly payments. Frequently reverse mortgages are used to supplement income of aging adults who have a fixed income for a variety of reasons.
Borrowers must be aged 62 or older. Homeowners insurance and property taxes must be paid up to date to qualify. Borrowers must also live in the home to qualify for a reverse mortgage. Are you interested in taking the next step towards a reverse mortgage by speaking with brokers? Feel free to give us your contact information on our website and we'll get back to you as soon as we can. We also welcome you to give us a call at our office to learn more about reverse mortgages, their rates, and if they're right for you and your family.
If you're looking to accelerate the repayment of your mortgage and potentially save thousands of dollars in interest, here are four simple tips to help you can pay your mortgage off faster:
Paying off your mortgage earlier is a personal decision based on your financial goals. The good news is, most lenders will let you pay off your loan faster without pre-payment penalties. here are just a few reasons you might consider accelerating your repayment: