Reverse Mortgage
- What Is a Reverse Mortgage?
- What's the Difference between a Reverse Mortgage and a Home Equity Loan?
- Who is Eligible for a Reverse Mortgage?
- How Much Can I Borrow?
- What Fees Are Associated with a Reverse Mortgage?
- Are There Different Types of Reverse Mortgages?
- How Do I Access the Money?
- When Is Repayment Due on a Reverse Mortgage?
- What Things Should I Consider?
- What Are the Tax Consequences of a Reverse Mortgage?
How Do I Access the Money?
Once the reverse mortgage is in place, there are several different options to tap into the money:
- A lump-sum payment
- A line of credit from which the funds can be drawn upon as needed
- A fixed monthly cash advance, which is received by the borrower over a certain number of years
- A fixed monthly cash advance, which is received by the borrower as long as the borrower occupies the home
- A combination of a line of credit along with a monthly cash advance for a fixed period of time selected by the borrower
- A combination of a line of credit along with a monthly cash advance for as long as the borrower remains in the home
- A combination of a lump-sum payment, a line of credit, and a monthly income
You can change options if your circumstances should change, providing the outstanding mortgage balance is less than the original principal limit.
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Securities and insurance products are offered through INFINEX INVESTMENTS INC. and its affiliates, member FINRA/SIPC. Infinex Investments Inc. and Exchange Investment Services, Inc. are independent entities.
Securities and insurance products are offered through INFINEX INVESTMENTS INC. and its affiliates, member FINRA/SIPC. Infinex Investments Inc. and Exchange Investment Services, Inc. are independent entities.
Not FDIC Insured | Not Bank Guaranteed | May Lose Value | Not Guaranteed by any Government Agency | Not a Bank Deposit
This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. registered representatives. Infinex Investments Inc. registered representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all the investments and services mentioned are available in every state.
