Reverse Mortgages

Searching for a mortgage loan? We'll be glad to discuss your mortgage needs! Give us a call today at (949) 837-1559. Want to get started? Apply Now.

With a reverse mortgage loan (sometimes called a home equity conversion loan), homeowners of a certain age may use home equity for anything they need without having to sell their homes. Deciding how you would prefer to be paid: by a monthly amount, a line of credit, or a lump sum, you may get a loan based on your home equity. The loan doesn't have to be paid back until the homeowner sells the residence, moves away, or dies. After your home has been sold or is no longer used as your main residence, you (or your estate) must repay the lender for the money you got from the reverse mortgage as well as interest among other fees.

Who is Able to Participate?

Typically, reverse mortgages are available for borrowers who are at least sixty-two years of age, have a small or zero balance owed against your home and maintain the home as your principal residence.

Reverse mortgages can be advantageous for retired homeowners or those who are no longer bringing home a paycheck but have a need to add to their limited income. Social Security and Medicare benefits are not affected; and the money is nontaxable. Reverse Mortgages may have adjustable or fixed rates. The house can never be in danger of being taken away from you by the lender or put up for sale without your consent if you live longer than your loan term - even if the current property value creeps below the loan balance. Call us at (949) 837-1559 if you want to explore the benefits of reverse mortgages.

Mortgage Team America can answer questions about reverse mortgages and many others. Call us: (949) 837-1559.