Interested in learning about Reverse Mortgage Loans?
Reverse Mortgage Loans are a special type of home loan that lets you convert a portion of your home’s equity into cash. The equity that you built up over the years of making mortgage payments can be paid to you. Many seniors use Reverse Mortgage Loans to supplement their Social Security, meet unexpected medical expenses, make home improvements, and more.
Here a few key points to qualify for a Reverse Mortgage:
- YOU HAVE TO BE 62 YEARS OR OLDER.
- YOU HAVE TO OCCUPY THE PROPERTY AS PRIMARY RESIDENCE.
- THE PROPERTY HAS TO BE A 1-4 FAMILY HOUSE.
- THE PROPERTY HAS TO BE A HUD-APPROVED CONDOMINIUM.
- YOU HAVE TO PARTICIPATE IN CONSUMER INFORMATION SESSION.
The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage or HECM. HECMs are only available through an FHA approved lender. By partnering with the leading lenders in the industry, eMortgage Tech is capable and ready to get you qualified for a reverse mortgage.