Traditional mortgages require borrowers to make regular payments on loan balances. With reverse mortgages, homeowners receive regular payments from lenders. Repayment isn’t required until borrowers no longer live in their house. However, loans can be repaid earlier, if you choose to do so.

Yes, if taxes & insurance are current and the property is maintained, your existing home loan will be paid in full when qualifying.

No, you retain ownership of your property as long as at least one borrower continues to reside in the home, pay property taxes & insurance, and keep the house in good shape.

The specific amount depends on several factors, but members typically qualify for between 30% and 70% of a home’s value. For a personalized estimate, please call 1-866-224-2157.

No, monthly payments are optional as long as insurance is in effect, property taxes are paid, and the house is maintained. Repayment is not due until after the borrower leaves the home. And loans can be paid early.

If you have an existing mortgage, reverse funding is used to pay off that balance first.

After that, funds are distributed in a lump sum, by regular monthly payments, as a line of credit for potential future use, or any combination of these methods.

Be sure to consult a professional financial advisor for specific information about taxes or government benefits.

Tap into funding for whatever expenses you choose, including getting caught up on bills, updating the home, assisting with healthcare expenses, paying off loans or credit card balances, saving up for long-term care, travel, or other matters.

Reverse mortgage repayments usually come from home sales. However, your heirs will have the option to pay the remaining balance and gain ownership of the property.