Here’s Your Check-List
To qualify for a reverse mortgage:
1) You must be least 62 years old and be listed as a homeowner on the title.
2) Your home must be your primary residence.
3) You must have qualifying equity in your home.
4) You must meet the financial assessment guidelines.
5) Your home must meet Federal Housing Administration (FHA) standards.
Reverse mortgages also require that you pay your property taxes, insurances and maintain your home.
Upon qualification and approval, you can enjoy the many benefits that come with a reverse mortgage. As long as you follow the terms of the loan, you may live in your home for as long as you wish.
Don’t let the unknowns keep you from a lifestyle that you deserve, contact Carol today to find out if you qualify.