"The United Mortage team was able to help understand our loan options, and the Reverse Mortgage advantages.. "
- Bill & Susan Rosner-

Reverse Mortgage

Reverse mortgages (also called home equity conversion loans) enable qualified homeowners to tap into their equity without selling their home. The lender pays you money based on the equity you’ve accrued in your home; you receive a lump sum, a monthly payment or a line of credit. When you sell your home or no longer use it as your primary residence, you or your estate must repay the cash you received from the reverse mortgage plus interest and other finance charges to the lender.

Reverse mortgages require you be at least 62 years of age, have a low or zero balance owed against your home and maintain the property as your principal residence.

Reverse mortgages are ideal for homeowners who are retired or no longer working and need to supplement their income. Interest rates can be fixed or adjustable and the money is nontaxable and does not interfere with Social Security or Medicare benefits. Your lender cannot take property away if you outlive your loan nor can you be forced to sell your home to pay off your loan even if the loan balance grows to exceed property value.

  • Continued Ownership Stay in Your House for Your Lifetime!
  • Lump Sum Payment Available!
  • Income You Need NOW!
  • Limited Documentation Required!
  • Apply online www.unitedmortgage.com/refinance

*Certain restrictions may apply and not all applicants will qualify. Homeowners must be 62 years of age or older and must live in the home as a primary residence. Borrowers must maintain hazard and flood insurance premiums, pay their property taxes and utilities, and make any property repairs required by the mortgage. Although there are no monthly mortgage principal and interest payments, interest accrues on the portion of the loan amount disbursed. HECM mortgages can use up all or some of the equity in your home and the amount that is owed on a reverse mortgage will typically grow over time. Must meet underwriting and collateral requirements. To learn more about the HECM reverse mortgage program, go to www.hud.gov